“Cryptocurrencies will crash when Trump takes office”

Former BitMEX CEO Arthur Hayes predicts a collapse in cryptocurrencies when Donald Trump takes office on January 20.

Hayes, who published an article on his personal blog page, argued that high expectations for the Trump administration could lead to a huge sales wave. Hayes stated that crypto investors should pay attention to the date when Trump will take office. The crypto expert said various policy changes, including strategic reserve plans, are far from reality.

Hayes, who has attracted attention with his altcoin investments in the last few months, used the following statements;

“The crypto market will understand that Trump will not make policy changes (Bitcoin reserve, etc.) first when he takes office on January 20, and developments may take up to a year.”

Hayes warned about cryptocurrencies

Former BitMEX CEO Arthur Hayes predicts that a “buy the expectation-sell the news” scenario will occur when US President Donald Trump takes office.

Hayes reminded that cryptocurrencies, especially Bitcoin, rose due to Trump’s pro-crypto policies. According to the crypto expert, it does not seem possible for Trump to quickly make the policy changes that crypto investors have been waiting for.

Hayes noted:

“When the market realizes that expectations will not be met, it will experience a major collapse. “There will be a violent sell-off in crypto and equity transactions.”

According to data platform The Block, the BTC price has risen over 50 percent since Trump won the election.

Trump’s win raised expectations for crypto regulations and the strategic Bitcoin reserve. As is known, Trump promised the strategic reserve at a Bitcoin conference he attended during the election process.

Hayes noted that most lawmakers gave Trump a year to make policy changes. Former BitMEX CEO concluded his words as follows;

“If the bull market continues until January 20, I will admit that I was wrong and go back to the bull market.”