Donald Trump’s inauguration will see a "painful" crash in cryptocurrency prices: Arthur Hayes

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Arthur Hayes, a veteran in the cryptocurrency space, believes the digital asset market will experience a "painful" collapse next month.

The BitMEX co-founder stated in a new analysis that long-standing economic issues will make it "almost impossible" for the elected President of the United States, Donald Trump, to maintain control of both houses by 2026, meaning he has little time to achieve his policy goals.

"People lack patience because they are desperate. Trump is a shrewd politician who understands his supporters. To me, this means he must act quickly, which is why I bet that the dollar will depreciate significantly against gold within the first 100 days of his presidency. This is a simple way to rapidly make U.S. production costs globally competitive. This will lead to an immediate return of production capacity, resulting in hiring increases today rather than five years from now.

Before we enter the collapse phase of the cryptocurrency bull market, I believe the cryptocurrency market will experience a painful crash around the time of Trump’s inauguration on January 20, 2025. Maelstrom will reduce certain positions in advance, hoping to buy back some core positions at a lower price sometime in the first half of 2025."

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