Is It Time To Buy Bitcoin And Altcoins? Crypto Millionaire Arthur Hayes Has The Answers



Arthur
Hayes
,
a
crypto
millionaire
and
the
co-founder
of
the
BitMEX
crypto
exchange,
has
encouraged
crypto
investors
to


go
long
on
Bitcoin


and
other
promising
altcoins
in
the
market.
He
encouraged
investors
to
get
ready
for
an
imminent
Bitcoin
bull
run
this
season.  


Arthur
Hayes:
Go
Long
On
Bitcoin
And
Altcoins


In
a
recent


blog
post


titled
“Group
Of
Fools,”
Hayes
has
acknowledged
Bitcoin’s
prospects,
highlighting
that
the
crypto
bull
run
was
finally
reawakening
with
Bitcoin
potentially
being
one
of
the
most
profitable
cryptocurrencies
during
this

How To Get Free Crypto  


bull
cycle


The
BitMEX
co-founder
linked
the
efforts
of
the


central
bank


to
the
performance
of
the
crypto
market,
suggesting
that
actions
taken
by
the
US
central
bank
could
help
propel
the
cryptocurrency’s
market
to
its
earlier
glory
days,
with
the
market
recovering
from
the
previous
summer
slump.


Hayes
also
disclosed
initial
expectations
of
major
policy
changes
in
August
2024
during
the
Federal
Reserve


Jackson
Hole
Symposium
.
However,
currently,
he
has
noticed
a
reduction
in
monetary
policies,
and
as
a
result,
has
encouraged
investors
to


go
long
on
Bitcoin


and
other
altcoins
in
the
market. 


In
addition,
the
BitMEX
co-founder
recommended
the
introduction
of
new
tokens
and
the
deployment
of
liquid
crypto
assets,
expressing
strong
conviction
in
shitcoins.
In
his
blog
post,
he
declared,
“The
crypto
bull
is
reawakening
and
is
about
to
gore
the
hides
of
profligate
central
bankers.”


Furthermore,
Hayes
believes
that
the
upcoming


Group
7
(G7)
countries


meeting
would
be
an
important
one.
He
disclosed
that
the
financial
market
was
more
interested
in
the
possibility
of
the
Federal
Reserve
and
The

Coinbase Banner  


Bank
of
Japan
(BOJ)


cooperating
to
strengthen
the
Chinese
(yuan).
He
also
highlighted
in
his
post
that
the
dollar-yen
exchange
rate
was
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
the
G7
countries,
excluding
the
Bank
of
Japan.
He
made
his
reservations
about
the
prospects
of
the


Federal
Reserve
cutting
rates


close
to
the


US
Presidential
elections


scheduled
for
November
2024,
citing
the
political
and
economic
implications
of
the
move. 

Total
crypto
market
cap
closing
in
on
$2.5
trillion.
Chart:

TradingView


Hayes
has
predicted
that
neither
the
Fed
nor
the
BOJ
will
make


rate
changes


in
their
June
meetings.
However,
he
remains
optimistic
about
the


Bank
Of
England
(BOE)
,
suggesting
that
the
BOE
may
follow
in
the
footsteps
of
the
Bank
of
Canada
(BOC)
and
European
Central
Bank
(ECB),
in
cutting
rates. 


Bitcoin
On
Track
To
Reach
New
All-Time
Highs


Sharing
a
similar
sentiment
as
Hayes
on
going
long
on


Bitcoin
,
a
crypto
analyst
identified
as
‘Jelle,’
on
X
(formerly
Twitter)
has
made
a
bullish


prediction


about
Bitcoin. 


According
to
Jelle,
Bitcoin
is
less
than
4%
away
from
surging
to
a
new


all-time
high
.
The
cryptocurrency
witnessed
a
rally
to
a
new
all-time
high
earlier
in
March,
surpassing
$73,000
and
outpacing
its
previous
all-time
high
of
more
than
$69,000
in
2021.

FreeBitcoin Banner  


Jelle
has
stated
that
the


Bitcoin
market
is
getting
ready
to
expand


soon,
highlighting
the
cryptocurrency’s
strong
price
fundamentals.
Similarly,
Michael
van
de
Poppe,
a
prominent
crypto
analyst
has
also
expressed
bullish
sentiments
concerning
Bitcoin,


disclosing


that
the
cryptocurrency
is
“heavily
ready”
for
a
breakout
upwards
to
a
new
all-time
high. 


Featured
image
from
Pexels,
chart
from
TradingView

Go to Source
Author: Scott Matherson


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