Arthur Hayes, co-founder of Bitmex, recommends Wait and See approach for cryptocurrency investors-
Arthur Hayes, co-founder of Bitmex, recommends Wait and See approach for cryptocurrency investors-
Bitmex co-founder and cryptocurrency investor Arthur Hayes has addressed the current market situation with the effects of the upcoming tapering process of the US Federal Reserve. Hayes also links this with the ever-grand situation in China and advises to hold out new signals until next year.
Arthur Hayes analyzes the current market situation
Former Bitmex CEO and cryptocurrency investor Arthur Hayes spent on what cryptocurrency investors should do in the context of the current market. In his latest Digest entitled "Circo Loco" (Crazy Circus), Hayes explains the current market situation in view of the larger economic framework, with the throttling of the Federal Reserve and the latest evergrande standard event.
For him, the situation in China in combination with the accelerated tapering process, which the Federal Reserve is already carrying out, will significantly influence cryptocurrency prices. Hayes says:
The Fed will continue to tighten the monetary policy conditions until the stinks sink ... or part of the US treasury market stops working normally.
Hayes emphasizes that a baisse in shares could impair the tapering process and cause the Federal Reserve to continue their QE (quantitative Easing) and printing policy.
What Hayes believes that investors should do
Based on this analysis, Hayes spends recommendations for cryptocurrency investors to get the best out of their capital during these times. In this period, it will be very difficult to see Bitcoin at $ 69,000 or Ethereum at $ 5,000, as it forecast a sideways market with constants and discounts.This reflects the predictions from the latest HUOBI report entitled " taper landed ”, which explains that the limitation of market liquidity may have a negative impact on market performance. The advice that Hayes gives is that new money is sitting on the sidelines and waiting for a better opportunity to enter the crypto market, which could be released in March 2022 or June 2022.
For those who would like to get in-or already have market positions-you should concentrate on play-to-earn, meta-severse or NFT-related tokens, since the overall performance of these tokens is not directly related to the economy and depends on other factors such as the introduction of these technologies into new markets that could support their growth.
What do you think of Arthur Hayes' description of the cryptom market and its recommendations? Tell us in the comment area below.
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