Arthur Hayes advised the crypto community to prepare for an even bigger drop in tokens

Arthur Hayes, the former CEO of the BitMEX cryptocurrency exchange, made a forecast on his Twitter account regarding the potential levels of Solana, Bitcoin, and Ethereum. The expert expects BTC $98,296.54 Bitcoin 3.76% Market capitalization $1.94 trillion VOL. 24 hours $6.72 billion to reach $ 10−15 thousand, ETH $3,335.30 Bridged Ether (StarkGate) 8.45% Market capitalization $0.28 billion VOL. 24 hours $3.23 billion - $ 750−1000, and SOL $256.81 Solana 9.51% Market capitalization $121.91 billion VOL. 24 hours $2.17 billion - $ 3. If the cryptocurrency eventually reaches this threshold, investors' losses will amount to millions of dollars.

8/#Crypto OG diamond hands are waiting for lower levels and will step in to further increase their stacks. $BTC = $ 10k — $ 15k$ETH = $ 750 — $ 1k$SOL = $ 3

— Arthur Hayes (@CryptoHayes) November 9, 2022

According to Hayes, financial managers affected by the FTX situation will reduce the number of their trading platforms, which will cause another liquidity crisis in the industry. As a result, the cryptocurrency rate will fall even further.

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It won’t take much to push the market to much lower levels and force other over-leveraged players into distress. Remember a lot of liquidity providers will sit on the sidelines licking their wounds for a bit.

— Arthur Hayes (@CryptoHayes) November 9, 2022

Recently, Hayes spoke negatively about state stablecoins, saying that national cryptocurrencies are «real evil.» The BitMEX exec is convinced that state-owned digital assets pose a danger not only to ordinary citizens but also to commercial banks, as they can become an unnecessary intermediary between people and central banks.

It should be added that over the past 24 hours, the cryptocurrency rate SOL $256.81 Solana 9.51% Market capitalization $121.91 billion VOL. 24 hours $2.17 billion has fallen by almost 26%, and over the past seven days — by 50%. Market experts warn that the negative trend will continue. At the time of writing, Solana (SOL) is trading at $ 15.51, down 20.09% from the previous day. The market capitalization of the digital asset is $ 5.622 billion, and traders made daily deals worth $ 530.3 million.