Is this the long-awaited beginning of an upward bullish trend or just a small pullback before further collapse into the abyss? Even experienced crypto traders and investors are not so easy to analyze the current situation, what can we say about newcomers who decided to actively engage in cryptocurrency and immediately got into such a commotion on a universal scale.
There are a lot of expert opinions on this, but today we will talk about the position of Arthur Hayes, an American entrepreneur, co-founder and former CEO of the BitMEX crypto exchange, as well as a well-known personality in the world of cryptocurrencies.
In short, Hayes has recently joined the optimists. Back in November, he warned the crypto community about the possible collapse of bitcoin to $10,000 in the event of the bankruptcy of the Genesis crypto lender. However, now the prospects for the crypto market seem much less gloomy to Hayes.
He believes that everyone who could have lost substantial amounts or gone bankrupt has already done so. This means that the crypto market begins to feel its bottom after an epic collapse, because absolutely any fall is still of course. According to Hayes, there has been a simple redistribution of global crypto capital recently - for example, he believes that all short-sighted and irresponsible companies got rid of their bitcoins, thanks to which they moved into the "strongest" hands and concentrated in them, remaining the same liquid and reliable asset.
In general, Hayes' position does not contradict the key trading postulates - as long as the global trend remains falling (bearish), it is best to consider selling for short-term transactions. Those who are willing to work for the long term and follow the rule "sell when it's expensive and buy when it's cheap" can and should pay attention to buying proven and reliable cryptocurrencies with a long-term perspective, that is, join the notorious hodlers. Hayes has no doubt that the losses of the cryptocurrency market will definitely be recouped, and in the near future it will again enter a phase of active growth.
It is worth noting that Hayes' position is only his private opinion, which should not be considered as a direct guide to action. However, it is already obvious that there is a considerable amount of truth in his words, since the crypto market is steadfastly enduring all difficulties and problems, which means it still remains relevant and extremely promising.
It is safe to get acquainted with trading and many opportunities of the crypto market - you can in the GRIN4 ecosystem.