November 18th, BitMEX co-founder Arthur Hayes stated in his latest blog post "Snow Forecast" that, "Bitcoin has dropped from $125,000 to around $90,000, while the S&P 500 and Nasdaq 100 indices are still hovering at historical highs, which leads me to believe that a credit event may be brewing. This view is supported by the decline in the U.S. dollar liquidity index since July. If the assessment is correct, the stock market may experience a 10%–20% correction, while the 10-year U.S. Treasury yield approaches 5%, forcing the Federal Reserve, Treasury Department, or other U.S. government agencies to urgently roll out some form of money printing scheme. During this soft period, Bitcoin may decline to $80,000 to $85,000. If the broader risk markets collapse, the Federal Reserve and Treasury Department accelerate their money printing actions, Bitcoin could rally to $200,000 to $250,000 by the end of the year."