Arthur Hayes, co-founder of the BitMEX exchange, recently wrote on his personal blog, cryptocurrency market scenario, of bitcoin published an article detailing its price, the FTX debacle, lenders, and the choice of the four best altcoins to hold in this volatile bear market.
According to Arthur, in these bear markets, serious investors need to hold on to assets that not only gain in value when the market turns green, but also yield as a token holder.
Hayes Named Bitcoin and Altcoins on his Blog for Bear Market
Hayes also selects four of his preferred cryptos and divides them into two sections: “Reserve Assets” and “Super Strong Assets”. Under Reserve Assets, Bitcoin, the largest cryptocurrency by market capitalization, followed by Ethereum he chooses. The other two cryptocurrencies that fall into Super Strong Assets LOOKS and GMX as stated.
He also states that many of the DeFi projects “have been hit during two bearish waves of the 2022 crypto credit crisis,” thus paving the way for entering such projects at a much cheaper valuation and price.
Arthur claimed that Bitcoin and Ethereum could aid him in capital appreciation when the bull market takes over, but that tokens like the other two altcoins will yield returns for him, and neither of the two above are currently doing so.
Arthur also stressed on his blog that Bitcoin’s price may have “bottomed out” at $15,900, and investing at times like these seems risky, albeit rewarding.
*Not investment advice.
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