Markets
Arthur Hayes Outlines Crypto Trading Strategies for the 2024 Bull Market: “It’s Pretty Simple”
June 10, 2024 05:00 | 1 minute read
Bitcoin (CRYPTO: Bitcoin) billionaire and co-founder of BitMEX, Arthur Hayes has revealed his trading strategies for this year’s cryptocurrency bull market.
What happened: In a interview with the Coin OfficeHayes was asked what his mantra was for this year, which has seen significant increases in the value of major cryptocurrencies.
“Be long,” the billionaire Bitcoiner responded, albeit jokingly. “Don’t sell, don’t get rattled, don’t use too much leverage, I mean it’s pretty simple, like everyone knows what they should do.”
Hayes reiterated that continued expansion of the monetary base would provide more strength to cryptocurrencies, particularly Bitcoin.
“If you believe that central banks and governments are in debt and will continue to print money, continue to hand out your welfare to buy votes or support from the general population, then cryptocurrencies are the answer and, of course, Bitcoin is the OG” , underlined the entrepreneur.
Because matter: Arthur Hayes, one of the keen observers of the cryptocurrency market and the US macroeconomy, said last month that Bitcoin it would gain strength depending on the choices of economies to avoid raising interest rates.
He also underlined the importance of the next presidential electionspredicting significant monetary easing as leaders would distribute financial incentives to ensure electoral victory.
Hayes’ comments are the best Cryptocurrency analysts continue to take a bullish view of the markets.
Price action: As of this writing, Bitcoin was trading at $69,415.47, remaining mostly stable over the past 24 hours, according to data from Benzinga Pro.
Read next: Why is Bitcoin struggling to break its all-time highs? A cryptocurrency research firm explains
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