BitMEX Former CEO Arthur Hayes shared his price prediction for Solana, along with leading cryptocurrencies Bitcoin and Ethereum.
Arthur Hayes on his personal twitter account Solana made a prediction about the potential levels of assets like Bitcoin and Ethereum to attract the attention of whales and long-term holders. However, if cryptocurrencies reach the levels described by Hayes, the losses for investors could get even bigger.
According to Arthur Hayes, money managers affected by the FTX situation will reduce the number of trading areas and cause another liquidity crisis in the industry, which will be the main reason behind another decline. The levels where Hayes expects the buying capacity to rise are $10,000-15,000 for Bitcoin, $750-1,000 for Ethereum and $3 for Solana.
Hayes also made some suggestions about the current situation in the market:
“If they aren’t your keys, neither are your coins. Expect all exchanges to closely guard their clients’ capital. No more borrowing from so-called crypto prime brokers. No more making polite phone calls to big investors to ask for margin completion. No mercy liquidation. Funds in FTX losing money managers will initially withdraw from trading and reduce the number of trading platforms they operate on. Order book liquidity will decrease. It won’t take much to push the market much lower and distress other over-leveraged traders. Keep in mind that many liquidity providers will sit on the sidelines for a while and heal their wounds. “