Altcoins Will ‘Get To Fire’ Once Bitcoin Hits This Price Level, According to BitMEX Founder Arthur Hayes
BitMEX founder Arthur Hayes says that altcoins may finally see a boost once Bitcoin (BTC) breaks a certain price range. In a new interview on Crypto Banter, Hayes, the founder of crypto investment firm Maelstrom, says that he’s expecting Bitcoin to continue dominating the crypto market for some time. However, Hayes says once BTC soars well above the $100,000 level again, riskier crypto assets will most likely start to shine. “We accelerated a bit after the recent Fed press conference where Powell announced the reduction of QT (quantitative tightening) and sort of teased QE (quantitative easing). We accelerated a bit, and if the market continues to collapse a bit, we’ll probably accelerate even more in terms of deploying capital. Most of what we’re buying is Bitcoin, I think Bitcoin dominance – that is the percentage of Bitcoin in the whole cryptocurrency market – continues to rise, and then at some point, let’s say Bitcion’s at...