Altcoins
Best Altcoin Picks for May 2024: Buy Now for Maximum Gains!
Arthur Hayes, the famous crypto influencer and former CEO of BitMEX, has re-emerged with his latest blog post, “Mayday.”
In “Mayday,” Hayes describes the recent crypto market decline as a “necessary cleanup,” attributing it to various factors such as the U.S. tax season, speculation surrounding the Federal Reserve’s May decision and the Bitcoin halving. During this period, Bitcoin itself underwent a 12% correction.
Take the chance!
Rather than viewing the economic downturn negatively, Hayes sees it as a great opportunity for savvy investors to acquire crypto assets like Bitcoin, Ether, and high-beta altcoins at discounted prices. He likens this phase to a process of eliminating speculative traders or “tourists” from the crypto market.
The best picks of the month of May
Hayes recommends a balanced approach for May, arguing for a focus on established cryptocurrencies like Bitcoin and Ether for their resilience. Additionally, he suggests keeping an eye on promising altcoins such as Solana (SOL), Dogwifhat (WIF), and Dogecoin (DOGE) for potential gains.
Hayes says accumulating such large assets during market corrections can help investors generate significant returns when the market stabilizes and begins to rise. He describes his approach as “Buy May and Go,” highlighting the potential gains from investing in crypto during the summer months.
“Mayday is a brief discussion of recent Fed, U.S. Treasury, and bank bailout policies. This is money printing in disguise. As such, I’m re-entering the market with some super crappy shitcoins.
Arthur Hayes
It’s time to get strategic
In a candid gesture, Hayes discusses his interest in exploring lesser-known altcoins, leveraging recent monetary policies to his advantage. This includes short-term plays like Dogecoin and Solana, as well as long-term bets on tokens like Pendle (PENDLE).
Once one’s positions are defined, Hayes suggests taking a more hands-off approach, allowing the market to react naturally to recent policy changes. Despite the short-term fluctuations, he remains optimistic about the long-term outlook for the market, supported by liquidity injections.
Arthur Hayes’ “Mayday” Manifesto offers valuable insights for navigating the twists and turns of the crypto market, embodying strategic resilience amid uncertainty.
Ready for a bullish summer? Or is Hayes too optimistic? Share your predictions!