PANews reported on November 18th that BitMEX co-founder Arthur Hayes stated in his latest blog post, "Snow Forecast," that Bitcoin's drop from $125,000 to the $90,000 range, while US stocks remain at historical highs, indicates that "a credit event is brewing." Hayes pointed out that its dollar liquidity index has weakened significantly since July, and if the market deteriorates further, the Federal Reserve, the Treasury, or other institutions will be forced to accelerate "money printing" to stabilize the market. During this period, Bitcoin may fall back to $80,000-$85,000.

He believes that once US liquidity expands again and stimulus policies are strengthened, Bitcoin will quickly reverse course and is expected to surge to the $200,000-$250,000 range by the end of the year.