BitMEX CEO Warns of March Banking Crisis Risks Triggering 40% Bitcoin Price Plunge
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January 19, 2024 09:05 AM Central Standard Time
In an alarming prediction, the CEO of BitMEX has warned investors of a potential banking crisis in March, which could trigger a 40% plunge in Bitcoin prices. On a brighter note, Meme Moguls is currently in its presale phase, offering an exciting opportunity for early investors to get on board before the predicted 100x. Let's jump into the details of these two contrasting events.
The Potential Banking Crisis In March
Arthur Hayes, co-founder of BitMEX, has forecasted a substantial downturn in the cryptocurrency market during March. He attributes this prediction to implications of the Bank Term Funding Program, the Reverse Repo Program, and the upcoming rate decision by the Federal Reserve.
1) Reverse Repo Program
The Reverse Repo Program (RRP) uses securities and bonds as collateral to regulate short-term liquidity. Arthur Hayes points out that there has been a constant injection of liquidity into the financial markets driven by a reduction in the RRP balance.
However, Hayes argues that this trend will come to an abrupt stop in March. Reduced liquidity in the financial markets could lead to a ripple effect on various industries, including cryptocurrencies.
2) Bank Term Funding Program
The Bank Term Funding Program (BTFP) is scheduled to expire on March 12. Arthur Hayes has speculated that U.S. Treasury Secretary Janet Yellen may initially hesitate to extend the BTTP program, which could cause a massive liquidity crunch in the financial markets.
Hayes contends that should this scenario lead to the downfall of several central banks, akin to the financial collapses experienced in March of the previous year, it could compel Yellen to reconsider and ultimately renew the BTFP. However, this may be too late to prevent a substantial downturn in the cryptocurrency market.
3) Federal Reserve’s Rate Decision
The Federal Open Market Committee (FOMC) must make a decision on whether to keep interest rates low or raise them on March 20th. Rates were raised in March 2021, but there is now a possibility that rates will be cut by 0.25% in the following meeting.
Arthur Hayes' March Bitcoin Prediction
Hayes predicts that the convergence of these elements could result in a drop of as much as 40% in Bitcoin's value. He foresees the drop occurring around the 12th of March, coinciding with broader financial market movements.
Nevertheless, Hayes anticipates a recovery before the Federal Reserve meeting, spurred by the prospect of additional liquidity being pumped into the market. He also highlighted the Bitcoin halving due in April, which could see another bullish run for the cryptocurrency.
Then there is the Bitcoin ETF, which has just been approved by the SEC. This could lead to a mass influx of institutional investment, potentially bolstering Bitcoin's value and mitigating any potential slump.
Meme Moguls: A P2E Phenomenon in the Making
Meme Moguls is poised to make a substantial impact in the play-to-earn (P2E) gaming market. Here, players can enjoy a fusion of learning, entertainment, and financial opportunity — with memes at the center of it all.
Players are given $100,000 in virtual money to start their trading journey. Although this starting capital is not real, players can earn MGLS tokens and unique NFTs by excelling in trading contests and achieving specific goals.
There are one-on-one battles, paid trading competitions, and a challenging "Beat the Market" mode, where players strive to outdo conventional indices like the S&P 500. Successful traders have the opportunity to ascend to 'Meme Mogul' status, where they can share their expertise for passive income.
MGLS Tokens: A Potential 100x Surge
Central to Meme Moguls' gameplay is the MGLS token. It not only functions as an in-game currency but also empowers players with governance rights, allowing them to influence platform developments. Additionally, staking MGLS tokens in the liquidity pool can yield passive income for holders.
MGLS tokens can now be purchased for just $0.0027 during the 4th presale stage, representing a 42% surge since the presale began. This price will keep rising until all 1.8B tokens allocated to the presale are sold.
With a market cap of just $8.10M at the current stage and a product that could be a massive hit in the $20B memecoin market, MGLS' potential for growth is significant. It's not improbable to predict a 50x increase in token value as the platform gains traction.
Meme Moguls and all cryptocurrencies are subject to significant price fluctuations and volatility. Investing in or holding Meme Moguls tokens carries substantial risks, including the potential for total loss. Past performance should not be considered indicative of future results.
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