Arthur Hayes starts 2024 on a weak note
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Arthur Hayes is an American investor, business visionary, subsidiary seller, Bitcoin advocate, and fintech pioneer. He, along with Ben Delo and Samuel Reed, was the co-founder and CEO of BitMEX. BitMEX was founded by him in 2014 and the parent organization is his HDR Global Trading. He is the former CEO of his BitMEX and parent organization 100x Group. BitMEX is an advanced resource exchange stage that has exchanged trillions of dollars in cryptocurrency transactions. BitMex is located in Seychelles. He is in Hong Kong. In October 2020, he became CEO of his BitMEX. BitMEX is the first cryptocurrency transaction to be charged under the Bank Safety Act. The regulation is expected to take into account exchanges with more than $10,000. This is known as Know Your Customer (KYC) information. He retired from his BitMex in October 2020. Alexander Hoptner replaced Hayes as CEO of BitMEX. He moved to Hong Kong in his 2008 and started working in speculative banking. He worked as a value sub-broker at Deutsche Bank and also had a long stint at Citigroup. He served as head of ETF market producer for both companies. He retired from Deutsche Bank in 2011 and started working at Citibank’s Delta 1 broker in Hong Kong. He became interested in Bitcoin in 2013 after reading Satoshi Nakamoto’s whitepaper. He is the youngest African-American crypto mogul in history.
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The former BitMEX CEO has been converting his Bitcoin bets into other altcoins, but the cryptocurrency has struggled to stay in the $40,000 range, and he expects more to come in the coming weeks. His latest move could make Bitcoin’s woes even worse as it is speculated to fall.
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Hayes dumps Bitcoin and shuffles Solana and Bonk positions
Arthur Hayes, co-founder of BitMEX, also shares the belief that the price of Bitcoin will fall further, and if such a decline occurs, he is prepared to take a chance on certain altcoins. I am.
With the approval of the BTC Exchange Traded Fund (ETF), Bitcoin could see a 30% correction from recent highs of $48,000 in 2024, and a drop from $30,000 to 30,000 in 2024, according to Hayes. A potential support level of around $33,600 is expected within the $5,000 range. . He also made a strategic move, taking a $35,000 strike put and exiting his Solana and Bonk trading positions, even if it meant a small loss.
Hayes believes that Bitcoin and cryptocurrencies are the last public market globally, and believes they can better predict changes in dollar liquidity compared to traditional financial markets. If Bitcoin falls below $35,000, Hayes plans to engage in what he calls “bottom fishing,” with smart contract platform Solana (SOL) and Ethereum rival meme asset Dogwifat ( We are aiming to invest in WIF).
“I’m taking Solana and WIF,” Hayes says.
Currently, Dogwifat is trading at $0.343, representing an increase of nearly 50% in the past 24 hours, while Solana is trading at $86.16, up almost 5.5% over the past day. Dogwifhat price has been surging between $0.330 and $0.355 recently, showing many ups and downs. Some experts believe the price could return to around $0.45, similar to mid-January. However, that is not guaranteed, and while Arthur Hayes is positive about it, the technical indicators are not giving a clear signal at the moment, adding uncertainty to future prices.