Altcoins
Is it time to buy Bitcoin and Altcoins? Crypto millionaire Arthur Hayes has the answers
Arthur Hayescrypto millionaire and co-founder of crypto exchange BitMEX, encouraged crypto investors to go long on Bitcoin and other promising altcoins on the market. He encouraged investors to prepare for an impending Bitcoin bull run this season.
Arthur Hayes: opt for Bitcoin and Altcoins
In a recent blog post titled “Group Of Fools,” Hayes acknowledged Bitcoin’s prospects, pointing out that the cryptocurrency bull run was finally waking up, with Bitcoin potentially being one of the most profitable cryptocurrencies during this period. bull cycle.
The co-founder of BitMEX linked the efforts of central bank to the performance of the cryptocurrency market, suggesting that actions taken by the US central bank could help propel the cryptocurrency market back to its early glory days as the market recovers from the crisis. previous summer.
Hayes also disclosed his initial expectations for major policy changes in August 2024 at the Federal Reserve. Jackson Hole Symposium. However, he currently sees an easing of monetary policies and, therefore, encourages investors to go long on Bitcoin and other altcoins on the market.
Furthermore, the BitMEX co-founder recommended the introduction of new tokens and the deployment of liquid crypto assets, expressing his strong conviction in shitcoins. In his blog post, he said: “The crypto bull is waking up and is about to skin the profligate central bankers. »
Furthermore, Hayes believes that the next Group 7 (G7) countries this meeting would be important. He revealed that the financial market was more interested in the possibility that the Federal Reserve and the Bank of Japan (BOJ) cooperate to strengthen Chinese (yuan). He also highlighted in his message that the dollar-yen exchange rate is one of the most important macroeconomic indicators.
The BitMEX co-founder noted that the financial market is also interested in the possibility of a rate cut among G7 countries, excluding the Bank of Japan. He expressed reservations about the prospects of The Federal Reserve cuts rates next to US presidential elections scheduled for November 2024, citing the political and economic implications of this decision.
Hayes predicted neither Fed nor BoJ would take action rate changes during their June meetings. However, he remains optimistic about Bank of England (BOE)which suggests that the BoE could follow in the footsteps of the Bank of Canada (BOC) and the European Central Bank (ECB) in cutting rates.
Bitcoin is on track to reach new all-time highs
Sharing a similar sentiment to Hayes about continuing for a long time Bitcoina crypto analyst identified as “Jelle”, on X (formerly Twitter), made a bullish comment. prediction about Bitcoin.
According to Jelle, Bitcoin is less than 4% away from climbing to a new record level. The cryptocurrency saw a rally to a new all-time high earlier in March, surpassing $73,000 and surpassing its previous all-time high of over $69,000 in 2021.
Jelle stated that Bitcoin Market Prepares to Grow soon, highlighting the cryptocurrency’s strong price fundamentals. Similarly, Michael van de Poppe, a prominent crypto analyst, also expressed optimistic sentiments regarding Bitcoin, disclose that the cryptocurrency is “strongly poised” for a breakout to a new all-time high.
Featured image from Pexels, chart from TradingView