Bitcoin and crypto prices have fallen sharply along with stock markets—pushed lower by Tesla billionaire Elon Musk issuing a surprise bitcoin price warning.
The bitcoin price, which topped $100,000 per bitcoin earlier this week, plummeted to around $92,000 despite a Wall Street investment bank making a massive bet on a bitcoin game-changer.
Now, as the bitcoin and crypto market braces for an "imminent" Elon Musk X bombshell, the legendary crypto investor Arthur Hayes has predicted the bitcoin price and crypto market will crash in late March.
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"Right on schedule, just like almost every other year, it will be time to sell in the late stages of the first quarter ... and wait for positive fiat liquidity conditions to re-emerge in the third quarter," Hayes, a cofounder of bitcoin and crypto derivatives pioneer BitMex who went on to set up the Maelstrom investment fund, wrote in a blog post.
The bitcoin price and crypto market rallies though periods in which dollar liquidity increases and falls as dollar liquidity declines, according to Hayes, who had previously predicted the bitcoin price would collapse around incoming U.S. president Donald Trump's inauguration.
"I still believe that is a potential negative factor that could weigh upon the market in the short term, but against that, I must balance the dollar liquidity impulse," Hayes wrote. "Bitcoin, for now, jukes and jives as the pace of dollar emissions changes."
According to Hayes, the Treasury's general account will be close to being emptied towards the end of the first quarter, exacerbated by the U.S. approaching the debt ceiling and the April 15 tax payment deadline.
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