Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH - Aliens: AI Crypto News & Markets Updates
Logo
Logo

Feed

Coins

About

Latest

Bitcoin

Ethereum

NFT

Gaming

Policy

Blockchain

Altcoins

Crypto Industry Veteran Explains When He Will Resume Buying $BTC and $ETH

PublisherPublisher
CryptoGlobe

Sat, May 14, 2022

Banner

Aliens TLDR

On Thursday (May 12), Arthur Hayes , Co-Founder and former CEO of crypto derivatives exchange BitMEX, talked about the current state of the crypto market and at what levels he will feel comfortable with buying more Bitcoin and Ethereum.

This week’s plunge was accentuated by the forced selling of all Luna Foundation Bitcoin in order to defend the UST:USD peg.

“I did not expect the market to trade through these levels so quickly.

This market cannot handle rising nominal rates.

It astounds me that anyone can believe long duration risk assets at all-time-high price multiples will not succumb to rising nominal rates.

A June 50bps hike is the expectation, and this will continue the destruction of long-duration risky assets.

“The crypto capital markets must be allowed time to heal after the blood letting concludes.

These levels roughly correspond to the all-time highs of each asset during the 2017/18 bull market.“ To make sure you receive a FREE newsletter every Friday that features highlights from that week’s most popular stories, click here .

Read full article on Aliens appRead from Original Source

The best experience is on the app

Everything happening in the crypto world, in real time

app

Recommended Stories

Article list item background

Bitcoin to $500k by when? Revealing what PlanB and the metrics say

On this day last year, Bitcoin was changing hands at a grand total of around $38,400. At the time of writing, however, the king coin was trading at $29,869.80 after rising by 2.09% in the past day and increasing by 0.24% in the last week. Trying to divine Bitcoin’s next movements can feel like trying to […]
AMB Crypto
·

3h

Bitcoin

Recommended Stories

Article

Ethereum Classic’s [ETC] +13% rally is fine, but the worrying sign is…

Article

Elon Musk Will Commit $33.5 Billion to Twitter Buyout

Article

Bitcoin Cash: How these contrasting indications could play out for BCH

Article

Daily Crunch: a16z literally doubles down, announces $4.5B crypto fund IV

Article

ECB survey: Crypto’s futures contracts and options trading is bound to be…

Article

Crypto in 2022: is there any hope of a comeback?

Article

Tether (USDT) vs. Binance USD (BUSD) • Benzinga

The best experience is on the app

Download app to discover exclusive content, live market updates and more.

Get smarter and richer with the Aliens Crypto Digest

Stay informed and entertained, for free.

Follow Aliens

Advertise