Seize the Crypto Downturn: BitMEX Founder Advocates for Buying Bitcoin (BTC) in May
full version at en.coinotag
- Arthur Hayes, founder of BitMEX, shares his analysis of the recent turbulence in the cryptocurrency markets, predicting a local bottom and upcoming rangebound action.
- Hayes attributes the volatility to a combination of factors, including the end of the U.S. tax season, potential Federal Reserve policy changes, Bitcoin’s recent halving event, and stagnant growth in assets under management for U.S. Bitcoin ETFs.
- He views the downturn as a necessary correction and suggests that experienced investors will HODL and potentially accumulate more established assets like Bitcoin and Ether.
BitMEX founder, Arthur Hayes, offers an insightful analysis of the recent cryptocurrency market volatility, attributing it to a mix of factors and predicting a local bottom and upcoming rangebound action.
Federal Reserve’s Quantitative Tightening Program
Hayes’ analysis focuses on the Federal Reserve’s recent adjustments to its quantitative tightening (QT) program. Initially aiming to reduce bond purchases by $95 billion per month, the Fed has scaled this back to $60 billion, something Hayes interprets as a disguised form of quantitative easing. He argues that this reduction in QT effectively increases the stimulus provided to global financial markets.
