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Arthur Hayes: The AI bubble may burst and drag the entire crypto market down.
The main idea of the new essay:
⚡️ Expensive energy + the war between the US and Iran + political pressure on the AI sector + overheated IPO market = high risk of a serious correction in stocks of AI and cryptocurrency companies.
However, after a possible crisis, authorities will once again be forced to turn on the printing press, which could become a strong driver for Bitcoin's long-term growth.
$BTC $ETH $BNB