Arthur Hayes, former CEO of BitMEX and a well-known name in the crypto world, made assessments on the current market correction.
Cryptocurrency Market Will Recover By The End Of Summer According To Arthur Hayes
Amid growing concerns about Binance and the ensuing market crash, Hayes shared his perspective on social media.
He attributed the uneasiness of the market to the potential filling of the General Account (TGA) of the Undersecretariat of Treasury by the end of the summer.
Hayes' remarks point to a widespread theory among some investors that NPL fluctuations can affect liquidity and thus financial markets.
According to Hayes, once this issue is resolved, the market will recover thanks to the massive printing of money going on in the background.
The market has crashed due to some Binance FUDs. But no matter what factor, risky investors are on their toes due to the NPL refill.
However, Hayes, by the end of the summer, the market will surpass this and move to a large amount of money printing going on in the background. “In the meantime, I have a few shitcoins to buy,” he said.
The market is down on some binance FUD. But regardless of the catalyst, risk mrkts r on edge cause of the TGA refill. By end of summer the mrkt will move past that and onto the lg amt of money printing humming along in the background. I have a few shitcoins to buy in the meantime pic.twitter.com/w52QABpgvJ
— Arthur Hayes (@CryptoHayes) June 6, 2023
Hayes' strategy underlines an important principle in investing: buy low and sell high. The current market correction may represent a buying opportunity for some investors who believe in the long-term prospects of cryptocurrencies.
While these assets are currently experiencing price drops, Hayes suggests that the overall trend in money inflows will help their value recover.
However, it is very important to remember that Hayes' view is not financial advice and that every individual should thoroughly research and consider their risk tolerance before making investment decisions.
*Not investment advice.
