Arthur Hayes foresees market bottom, predicts gradual uptrend
Release: 2024/05/04 01:19 Reading: 834
Bitcoin billionaire and former BitMEX CEO Arthur Hayes shared a mix of cautious optimism and strategic moves for Bitcoin following a weekly decline.
Hayes’s insights emerge as weekly red candles appear on multiple cryptocurrency charts. These candles reflect the market’s downturn earlier this week, which he believes could be the bottom.
“While I don’t expect crypto to fully realize the recent U.S. monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher,” Hayes stated in a recent blog post. This perspective comes at a time when investors and market spectators are desperate for a sign of stability.
Bitcoin recently took a significant hit, dropping below $57,000 just before a crucial Federal Reserve meeting. However, following Fed Chair Jerome Powell’s announcement that interest rates would remain unchanged — a widely anticipated decision — Bitcoin’s price began to stabilize. It has since climbed to $61,870, marking a 4.65% increase in the past 24 hours via CoinMarketCap, following news of U.S. jobs data.
src="/uploads/20240504/17148072886635e1f8b50bf.png">
Bitcoin’s price | Source: CoinMarketCap
You might also like: Solana to surpass all-time high despite activity decline, expert predicts
Despite his optimism about the market finding its bottom, Hayes revealed that he would not be adding to his Bitcoin (BTC) holdings but instead focusing on other opportunities.
“I certainly won’t be babysitting Bitcoin when I could be two-stepping,” he wrote, expressing his intent to shift his investments to high-volatility assets like Solana (SOL) and “doggie coins.”
In addition to his market predictions, Hayes pointed to several U.S. economic measures that could increase dollar liquidity, which he views as positive indicators for the crypto market.
These include the recent bailout of Republic First Bank and upcoming increased federal borrowing, which Hayes believes will raise long-term bond rates and potentially trigger yield curve control measures from Treasury Secretary Janet Yellen.
As these macroeconomic factors play out, Hayes is bullish about Bitcoin’s long-term prospects, even predicting a possible ascent to $1 million.
Read more: Bitcoin outperformed Amazon, Netflix over last decade
Recent news
More>- Crazy Biden (CRAZBIDE) Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 11-22
- 5 Memecoins Poised for Gains Under Trump’s Crypto-Friendly Agenda 11-22
- Must-Buy Altcoins for Massive Gains Ahead of Bitcoin’s $100K Surge! 11-22
- 3 altcoins under $1 set to explode like the Dogecoin and XRP price 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- Donald Nukes Ukraine Solana Memecoin Will Skyrocket 15,000% Ahead of Exchange Listing, As Shiba Inu and Dogecoin Underperform 11-22
- Shiba Inu Coin Price Set To Surge, As Pepe And New Meme Coin Trend Globally 11-22
- Bonk (BONK) Sets New ATH. Which Bullish Memecoins Are Next? 11-22
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com