Arthur Hayes: Don't rush to buy at the bottom, wait until the Federal Reserve and central banks of various countries "inject liquidity" before adding positions

Arthur Hayes posted, "The plan is as follows: Be patient, don't rush. Bitcoin may bottom out around $70,000. A 36% drop from the historical high of $110,000 is a normal bull market correction range. Then we need to see a significant decline in the stock market, especially SPX (SP 500 Index) and NDX (NASDAQ 100 Index). Subsequently, the 'novices' in traditional financial markets will be in trouble. Afterwards, the Federal Reserve (Fed), People's Bank of China (PBOC), European Central Bank (ECB) and Bank of Japan (BOJ) will all adopt easing policies in an attempt to revive their domestic economies. At this point, you can go all out. Traders will try to buy during the fall; if you prefer risk aversion then wait until central banks start easing before investing more money. You may not be able to precisely catch the bottom but you won't suffer long periods of sideways movement and potential unrealized losses."