Former BitMEX CEO shares his methodology for selecting promising altcoins
According to Arthur Hayes, the crypto market is very close to a reversal
16.10.2022 - 06:30
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1 min
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What’s new? Former BitMEX CEO Arthur Hayes spoke in an interview with Real Vision about how he chooses altcoins for investing. According to Hayes, he plays on the rebound by selecting cryptocurrencies from the top 20 by market capitalization. In his opinion, one should conduct benchmarking study of altcoin and wonder if the project will survive the next two years. The ex-head of BitMEX noted that the asset that fell the most will grow the most during the change of cycles, but explained that it does not always work that way.
What else did Hayes add? He also added that it is impossible to tell what stage of the bear market we are in right now. That said, the former head of the cryptocurrency exchange believes the market is close to a reversal, and the big question is how long prices will remain at the lows.
In September, Hayes said that bitcoin is the only way to protect one’s capital in the current global environment. In his opinion, goods in free markets will be priced in BTC. He added that any digital asset held by banks can be confiscated, but in the case of bitcoin that is almost impossible.
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