Arthur Hayes: Bitcoin may drop to $8 to $85,000 first, and rise to $20 to $250,000 by the end of the year

In his latest blog post, Snow Forecast, BitMEX co-creator Arthur Hayes said, "Bitcoin's fall from $125,000 to around $90,000, while the S & P 500 and Nasdaq 100 are still hovering at all-time highs, makes me judge that a credit event may be brewing. This view is confirmed when I look at the decline in the dollar liquidity index since July. If judged correctly, the stock market could see a 10% to 20% correction, while the 10-year Treasury yield is close to 5%, which would force the Federal Reserve, Treasury, or other US government entities to urgently launch some kind of money printing program. During this period of weakness, Bitcoin could dip to $80,000 to $85,000. If the broader risk market collapses and the Federal Reserve and Treasury accelerate their money printing operations, bitcoin could end the year headed for 200,000 to 250,000 dollars. "