‘If Genesis Goes Bankrupt, Bitcoin Will Return To $10,000,’ Says BitMEX Co-Founder

Former BitMEX CEO Arthur Hayes says that if Genesis goes bankrupt, Bitcoin might go to $10,000.

The co-founder of the BitMEX exchange, Arthur Hayes, tweeted a screenshot of a Bloomberg piece about the Genesis bankruptcy. According to Hayes’ tweet, if Genesis declares bankruptcy, the price of Bitcoin might fall to $10,000.

In June, Hayes predicted that “the crypto market is about to see bloody carnage,” adding that “the Russia-Ukraine conflict will cause global growth to slow due to rising commodity prices and the world currently in a state of turmoil,” which would fill the stock market as well as the crypto market, which he described as “bloody.“

In terms of Bitcoin, Hayes stated that he will not purchase any more this year, instead opting to acquire low-cap Altcoins and wait for the next bull cycle.

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