Arthur Hayes: Bitcoin may first fall to $80,000–$85,000, then surge to the $200,000–$250,000 range by the end of the year.

In his latest blog post, "Snow Forecast," BitMEX co-founder Arthur Hayes stated that Bitcoin's drop from $125,000 to the $90,000 range, while US stocks remain at all-time highs, means "a credit event is brewing."