BitMEX Co-Founder, Arthur Hayes (@CryptoHayes), recently conveyed his perspective in a comprehensive post, urging caution among traders amidst the current cryptocurrency bull market.
In his analysis, Hayes emphasized the need for tempered enthusiasm, asserting that the crypto bull market is still in its early phases. He drew a parallel between the regularity of Bitcoin blocks being produced every 10 minutes and the inevitable downfall of the existing fiat financial system.
Arthur Hayes(@CryptoHayes) predicted that Bitcoin will experience a healthy 20% to 30% correction by early March.
What will he do?👇
Attempt to top-tick the market in late February and then buy a put position expiring on June 28th.
Attempt to bottom-tick the market and close… pic.twitter.com/QxSgNdfuFM
— Lookonchain (@lookonchain) January 5, 2024
Hayes offered a prediction, foreseeing a healthy correction of 20% to 30% for Bitcoin by early March.
As a strategic move, he outlined plans to attempt to capitalize on market peaks in late February, intending to secure a put position expiring on June 28th. Subsequently, he aims to time the market bottom between March 12 and March 20.
A Possible Optimistic Long-term Outlook For Bitcoin, Hayes Reveals
Despite these short-term maneuvers, Hayes maintains an optimistic long-term outlook. He plans to resume selling T-bills to fund investments in Bitcoin and other cryptocurrencies by the end of March, indicating confidence in the crypto market’s resilience.
Hayes’ cautious yet strategic approach reflects a nuanced understanding of market dynamics. As a seasoned figure in the cryptocurrency space, his insights provide valuable perspectives for traders navigating the complexities of the current market trends.
With a belief in the transformative potential of cryptocurrencies, Hayes envisions a path to recovery and growth in the crypto landscape by the close of March.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.