Well, it’s apparent that 2024 hasn’t started out on a very positive note, and the market sentiments are highly bearish at present. Now, all eyes turn to arthur hayes
arthur hayes
co-founder at 100x
Arthur Hayes is an American investor, business visionary, subsidiary merchant, Bitcoin advocate, and a fintech pioneer. He was the co-founder, and CEO of BitMEX alongside Ben Delo, and Samuel Reed. BitMEX was established in 2014, the parent organization is HDR Global Trading. He is the previous CEO of BitMEX and parent organization 100x Group. BitMEX is an advanced resource exchanging stage that has exchanged trillions of dollars on the cryptographic money trade. BitMex is situated in Seychelles. He is situated in Hong Kong. In October 2020, He ventured down as CEO of BitMEX.
BitMEX is the first crypto trade to be charged under the bank security act. The regulations expect that exchanges that are more than $10,000 should be accounted for. It is known as Know Your Customer (KYC) information. He ventured down from BitMex in October 2020. Alexander Hoptner supplanted Hayes as CEO of BitMEX. He moved to Hong Kong in 2008, to begin his speculation banking profession. He worked for Deutsche Bank, as a value subordinates broker, and for Citigroup for a long time. He functioned as the head ETF market producer for the two firms.
In 2011, He left Deutsche Bank and started working for Delta 1 broker for Citibank in Hong Kong. His interest in Bitcoin began in 2013, after perusing the Satoshi Nakamoto’s white papers. He is the most youthful African American crypto tycoon ever.
EntrepreneurInvestorChief Executive OfficerTrader
, the former CEO of BitMex. In a strategic move, he is shifting his Bitcoin bet towards alternative cryptocurrencies, amplifying the challenges for Bitcoin, which is grappling to maintain its position in the $40K range.
Dive into his insights for a better idea on how to navigate YOUR crypto holdings too.
A Daring Bet on Altcoins
Former BitMEX CEO, Arthur Hayes, predicts a further decline in Bitcoin’s price and stands poised to capitalize on opportunities arising from specific altcoins should such a drop occur.
According to Hayes, there is a possibility of 30% correction for Bitcoin from its recent high of $48,000 in 2024, following the approval of BTC exchange-traded funds (ETFs), expecting a potential support level of around $33,600 within the $30,000 to $35,000 range. He has also taken strategic moves, acquiring $35,000 strike puts and letting go of trading positions in Solana and Bonk, even if it meant a slight loss.
Read More: Bulls, Beware! BitMEX Founder Warns of 40% March Correction for Bitcoin Price
The last open markets
In Hayes’ perspective, Bitcoin and crypto represent the final open markets globally, offering better insights into shifts in dollar liquidity compared to traditional financial markets. With plans to engage in “bottom fishing” if Bitcoin falls below $35,000, Hayes sets his sights on investments in Solana (SOL) and Dogwifhat (WIF), a meme asset on Ethereum’s rival platform.
Top Investment Picks
Currently, Dogwifhat is trading at $0.343, showcasing an impressive nearly 50% increase in the past 24 hours. Meanwhile, Solana is priced at $86.16, experiencing an upward movement of almost 5.5% in the last day. Despite Dogwifhat’s price fluctuating between $0.330 and $0.355, experts remain cautious about its future trajectory, with technical indicators casting uncertainty over its potential return to the mid-January high of around $0.45, a sentiment echoed by Hayes with cautious optimism.
Read More: Top Altcoins to Stack This Bullish Season for 35x Returns
Now, the stakes are high in the market and every move is under scrutiny. Keep a close eye on the updates and stay tuned to Coinpedia for maximum success!