Markets
Arthur Hayes Outlines Crypto Trading Strategies for 2024 Bull Market: “It’s Pretty Simple”
June 10, 2024 5:00 a.m. | 1 minute reading
Bitcoin (CRYPTO: BTC) billionaire and co-founder of BitMEX, Arthur Hayes has revealed its trading strategies for this year’s cryptocurrency bull market.
What happened: In a interview with the Currency OfficeHayes was asked about his mantra for the year, which saw significant increases in the value of major cryptocurrencies.
“Be long,” the billionaire Bitcoiner replied, albeit in a playful joke. “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 the continued expansion of the monetary base would give more strength to cryptocurrencies, particularly Bitcoin.
“If you think central banks and governments are in debt and will continue to print money, we will continue to hand out welfare to buy votes or support from the population at large, then crypto is the answer , and obviously, Bitcoin is the OG,” the entrepreneur emphasized.
Why is this important: Arthur Hayes, a keen observer of the cryptocurrency market and US macroeconomics, said last month that Bitcoin would gain strength as economies choose to avoid increasing interest rates.
He also highlighted the importance of the next presidential electionsproviding for significant monetary easing, with leaders handing out financial incentives to guarantee an electoral victory.
Hayes’ comments top the list cryptocurrency analysts continue to take an optimistic view steps.
Price action: At the time of writing, Bitcoin was trading at $69,415.47, trading mostly 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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