BitMEX founder Arthur Hayes discussed the macroeconomic situation and his views on the trends in the cryptocurrency market in an article released today.
Regarding the macroeconomy, Arthur Hayes pointed out that the Federal Reserve (Fed) of the United States has announced a reduction in the scale of quantitative tightening (QT). By slowing down the pace of reducing the balance sheet, an additional $35 billion will be released each month, which will help increase liquidity in the entire financial market, including the cryptocurrency market. In addition, despite the current benchmark interest rates remaining at a relatively high level, the government is managing liquidity demand through various measures such as adjustments to the Treasury Department’s debt issuance strategy, while ensuring market stability.
Therefore, Arthur Hayes believes that the cryptocurrency market will reach a bottom, experience a decline, and then slowly rise. He stated that the slow increase in liquidity of billions of dollars per month will suppress negative price fluctuations starting from now. Although he does not believe that cryptocurrencies will immediately fully realize the inflationary nature of the recent US monetary policy announcement, he expects prices to hit bottom, decline, and then slowly rise.
Arthur Hayes shared that personally, he chooses to buy Solana and Dogecoin in terms of short-term momentum trading positions. In terms of long-term altcoin positions, he would consider buying more PENDLE and other undervalued altcoins.
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