Arthur Hayes recommended an ETH short
Information has emerged that a sharp drop in ETH could be made by BitMEX, a platform on which many investors have shortened the price of this cryptome. There are some claims that the CEO of this crypo exchange has advised his clients through an official account to systematically shorten ETH for profit.
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According to information published by TrustNodes, BitMEX CEO, Arthur Hayes in one of the chat groups recommended perpetual swap trading with a 50x leverage.
"If you are a bitcoin speculator, this is an ideal opportunity and a way to risk and earn at ETH / USD. Trading with a 50x lever on ETH / USD trading pair is running. You can only trade with Bitcoin. You do not need to have any shitcoin called Ether, or even more shitcoin - USD. "
According to Hayes, ETH will drop below $ 100
At the time of the biggest boom, the ETH price was just below $ 1,400. A more or less continuous decline during the bear market has reached $ 200. But according to the BitMEX CEO, this price is too high and there is scope for further rapid decline.
In the BitMEX e-mail bulletin sent to notify the ETH / USD perpetual swap, he said that ETH is a "double-digit" coin. He indicated that his price would fall below $ 100. Despite Hayes' belief that Ethereum is a shitcoin, the stock according to its data processes this cryptoma in a volume of up to $ 3 billion a day.
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conclusion
Since BitMEX is an unregulated stock market that does not require standards from its KYC (know your customer) clients, it does not officially allow US citizens, Quebec (Canada), Cuba, Iran, Syria, North Korea, and Sudan to access their platform.
Analysts, however, believe the stock exchange has taken this step to avoid problems with regulators in the countries concerned, such as the US Securities and Exchange Commission (SEC). This fact, however, highlights the possibility that BitMEX really has something "behind the ears".