Arthur Hayes Envisions Highly Anticipated “Monster Altcoin Season” for ETH, XRP, ADA, SOL, DOGE, SHIB
Arthur Hayes, the former CEO of cryptocurrency derivatives trading platform BitMEX, has shared his bullish outlook for altcoins. The Crypto founder predicts an upcoming bullish rally for alternative...
Arthur Hayes, the former CEO of cryptocurrency derivatives trading platform BitMEX, has shared his bullish outlook for altcoins. The Crypto founder predicts an upcoming bullish rally for alternative cryptocurrencies in the near term.
Conversations about altcoin season, a period when alternative cryptocurrencies outperform Bitcoin, have heightened in recent times. So far, sentiments from key players have been mixed, as some market participants maintain that altcoins are not well-positioned to outpace Bitcoin in price performance anytime soon.
On the other hand, Arthur Hayes is one of the few onlookers optimistic about the near-term future of altcoins. Hayes, who initially revealed that he was skeptical due to the ongoing market chaos, is now convinced that Bitcoin’s recent rally is setting the stage for an altcoin takeover.
“I was slightly bearish in my last essay due to TGA refill. What changed? BTC busted through ATH on good volume.”
Notably, Altcoins frequently record an increase in demand as investors’ confidence heightens following a Bitcoin rally. Bitcoin’s position as the apex cryptocurrency carries significant weight across the broader cryptocurrency market. As such, positive correlations have been historically recorded during bull runs.
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The BitMEX co-founder revealed that Ether, the second-largest crypto by market cap, is already following in Bitcoin’s path. He foresees a highly anticipated altcoin season and further hinted that Maelstrom, his investment fund, is throwing its weight behind altcoins.
“ETH is following and will outperform, get ready for a monster alt szn. Mrkt thinks Trump will TACO on tariffs…MaelstromFund is backing up the truck!” He wrote.
The response to Hayes’ assertions is mixed, as many key players appear to be fully onboard, while others maintain skepticism.
Over the last seven days, demand for altcoins has increased, as evidenced by their rising price value. Leading altcoins, including ETH, XRP, DOGE, and ADA, have secured gains of up to 17.15%, 24.78%, 17.09%, and 26.31%, respectively.
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