Arthur Hayes: 99% of altcoins will eventually go to zero, but this is a normal market correction.

CoinFeed reported on May 9th, citing Cryptopolitan, that Arthur Hayes stated at Consensus Miami 2026 that 99% of altcoins will eventually go to zero, but this is a normal market cleansing process. He likened weak tokens to failed stocks, pointing out that approximately 98% of companies in the S&P 500 have gone to zero since 1929, and the collapse of the crypto market will only be faster because tokens trade 24/7, have fewer restrictions, and more chaos. Hayes believes that the market will always replace old bets with new ones, and tokens can be viewed as software projects; most software will fail, and this is not a death sentence for crypto. He emphasized that Bitcoin's price depends on the amount of fiat currency created, not politics or regulation; the more money the US and the world print, the higher Bitcoin's fiat value.