Arthur Hayes, former CEO of BitMEX and one of the leading names in the cryptocurrency world, is a name that frequently comes to the fore with his statements and investments. In his latest interview with The Big Whale, Hayes made important evaluations about the cryptocurrency markets. He emphasized that the upcoming presidential elections, especially in the United States, are one of the biggest obstacles to Bitcoin and altcoin markets.
US presidential election hinders BTC and altcoin market
According to Arthur Hayes, the US presidential elections, which will take place in November 2024, create great uncertainty for Bitcoin (BTC) and altcoins. Hayes stated that the election results will directly affect the markets and investors should be cautious for now. Hayes said, “I think the outcome of the election will not be clear immediately, and who the new president will be clear only in a period of 3-6 months. “This uncertainty will keep crypto markets under pressure,” he said.
Hayes stated that this environment of uncertainty brought about by the elections poses a serious risk, especially on assets such as Bitcoin, and constitutes an obstacle to price increases. Emphasizing that investors should avoid risk in this process, Hayes also announced that he would not make new purchases until the election process is clarified. Hayes said, “In this period, it would be wiser to adopt a wait-and-see strategy rather than taking excessive risks.”
Expectation of momentum in cryptos in the post-election period
Arthur Hayes said he thinks cryptocurrency markets will gain momentum again after the US elections. Stating that government spending will increase after the election and this will cause the dollar to lose value, Hayes stated that this situation will be in favor of Bitcoin and other altcoin projects. Hayes said, “No matter who wins, the government will print money after the election and this will create an extremely positive environment for Bitcoin. “In an inflationary environment, the attractiveness of Bitcoin will increase and investors will turn to cryptocurrencies as a safe haven,” he said. Arguing that Bitcoin will gain value, especially as the dollar weakens, Hayes stated that this rise in the cryptocurrency markets is inevitable.
Arthur Hayes made remarkable statements not only about Bitcoin, but also about altcoins, especially Solana (SOL) and Ethereum (ETH). While Hayes acknowledged that Solana is a project that has attracted attention in the crypto world recently, he stated that it is quite difficult to surpass Ethereum. Emphasizing that Ethereum is unrivaled in terms of the number of developers, innovative applications and overall ecosystem strength, Hayes said that he thinks it will take a long time for Solana to reach this level.
“Solana has a great foundation and a great community,” Hayes said. The Memecoin craze gave Solana serious momentum. “But given the market cap of ETH, it is unlikely that Solana will overtake Ethereum,” he added. He stated that it is inevitable for ETH to maintain its leading position, especially due to Ethereum’s dominance in the decentralized finance (DeFi) and NFT space. “Ethereum does not stand still, it is constantly evolving. “Solana and other altcoins will have difficulty with this speed of Ethereum,” he said.
A warning came to crypto investors
Arthur Hayes warned investors to be careful, especially during the election process. Stating that the uncertainty created by the elections could harm the crypto markets, Hayes said that investors should avoid taking too much risk during this period. Stating that Bitcoin and other major altcoins have great potential in the future, Hayes emphasized that caution should be taken in the short term. “Uncertainty is very high right now, but in the long run, cryptocurrencies will continue to be a safe haven,” said Hayes, adding that investors should act patiently and strategically.
As a result, Arthur Hayes’ statements offer important clues about the future of cryptocurrency markets. While the effects of the US presidential elections on cryptocurrencies will create a period of increased uncertainty for investors, Bitcoin and other cryptocurrencies are expected to rise in the post-election period. Ethereum’s continued leadership and the rise of projects such as Solana show that competition in the crypto world will be more intense than ever.
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