BitMEX Founder Arthur Hayes Describes ‘Huge Trading’ as Bitcoin and Crypto Markets Move Higher

Arthur Hayes, founding father of BitMEX and crypto trade veteran, says there’s a big commerce to play because the digital asset market soars larger.

In a brand new interview on the CryptoBanter YouTube channel, Hayes says the crypto bull market began in March 2023 when the Federal Reserve printed trillions of {dollars} to help the struggling US banking sector.

Hayes refers back to the movement as a ‘stealth’ printing of cash that finally triggered Bitcoin’s (BTC) transfer into a brand new bull market.

“Each bull market feels good at first, however then the market turns into overloaded after which we fall. We began with the bull market. We began in March 2023 when the Fed stealth printed $4 trillion, Bitcoin went from $20,000 to $74,000 and now the president and all his persons are lining up saying, ‘We will print as a lot cash as doable to attempt to undo thirty years to make. of the chinafication of world manufacturing,” and so that could be a big commerce.

As well as, we have now China printing cash, we have now Europe printing cash, we have now Japan printing cash. So everyone seems to be printing cash, the US goes to attempt to print essentially the most cash out of everybody.”

As markets begin to tick larger, Hayes has his eye on Solana (SOL), Ethereum’s (ETH) greatest rival. In response to Maelstrom’s CIO, SOL will proceed to outperform ETH, not less than within the quick time period.

“I feel it is Solana within the quick time period, and that is as a result of it is the ‘rising’ crypto. Why did you purchase it? It goes up. Quantity goes up.

Everybody sees the quantity rising, I’ll purchase that the quantity additionally rises. I name it the excessive beta Bitcoin. I would like some further juice. If I feel the market goes to pop, I’ll purchase some SOL.

The explanation SOL has executed so nicely from post-FTX when it hit $7… is as a result of the chain’s profitability has improved dramatically. And so clearly from a low base it is simple to actually outperform, the transactions are rising, it is tremendous low-cost, it is worthwhile now…

In case you have a look at the income progress during the last 18 months, it’s astonishing and in line with the expansion within the value of the cryptocurrency.”

On the time of writing, Solana is buying and selling at $203, up over 2% on the day.

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