Markets
Arthur Hayes Outlines Crypto Trading Strategies for the 2024 Bull Market: ‘It’s Very Simple’
June 10, 2024 5am | 1 minute reading
Bitcoin (CRYPTO: Bitcoin) billionaire and co-founder of BitMEX, Arthur Hayes has revealed its trading strategies for this year’s cryptocurrency bull market.
What happened: On a interview as Currency agencyHayes was asked about his mantra for the year, which has seen significant increases in the value of major cryptocurrencies.
“Take your time,” the billionaire Bitcoiner responded, albeit in playful jest. “Don’t sell, don’t get upset, don’t use too much leverage, I mean it’s very simple, everyone knows what they should do.”
Hayes reiterated that continued expansion of the monetary base would give more strength to cryptocurrencies, especially Bitcoin.
“If you believe that central banks and governments are in debt and will continue to print money, we will continue to distribute their social welfare to buy votes or support from the general population, then crypto is the answer and obviously Bitcoin is the GO”, emphasized the businessman.
Why this matters: Arthur Hayes, one of the keen observers of the cryptocurrency market and the US macroeconomy, said last month that Bitcoin would gain strength as economies chose to avoid rising interest rates.
He also highlighted the importance of the upcoming presidential electionsenvisaging significant monetary easing as leaders doled out financial incentives to secure an electoral victory.
Hayes’ comments are the main cryptocurrency analysts continue to take a bullish view of the markets.
Price Action: At the time of writing, Bitcoin is trading at $69,415.47, trading roughly flat over the past 24 hours, according to data from Benzinga Pro.
Read next: Why is Bitcoin struggling to surpass its all-time highs? Crypto Research Firm Explains
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