BitMEX Founder Arthur Hayes Reports ‘Massive Trade’ as Bitcoin and Crypto Markets Rise

Arthur Hayes, the originator of BitMEX and a seasoned veteran of the crypto industry, contends that the digital asset market is evolving into a significant trading opportunity.

According to Hayes, the crypto bull market commenced in March 2023, when the Federal Reserve issued trillions of dollars to assist the ailing US financial sector, in a recent interview on the CryptoBanter YouTube Channel.

Hayes characterizes the action as a “silent” production of money, which ultimately precipitated Bitcoin’s (BTC) transition into a new bull market.

“The onset of each bull market is satisfying, but it ultimately becomes overextended, resulting in a decline. The bull market has commenced. This massive trade began in March 2023 when the Federal Reserve secretly printed $4 trillion, causing Bitcoin to rise from $20,000 to $74,000. Currently, the president and his team are preparing to print an unlimited amount of money in an effort to reverse the 30 years of Chinafication of global manufacturing.

In addition, China, Europe, and Japan are all participating in the money manufacturing process. Therefore, the United States will endeavor to generate the highest volume of money among all nations.”

With the markets beginning to rise, Hayes is focusing on Solana (SOL), the largest competitor of Ethereum (ETH). As per the Maelstrom CIO, SOL will continue to outperform ETH in the medium term.

“I believe Solana will win in the short run because it is the crypto that is “going up.” What was the reason for your purchase? It is increasing. The number increases.

I will also purchase the number as it increases, as everyone observes it increasing. I refer to it as the high-beta Bitcoin. I would appreciate an additional supply of juice. I will purchase SOL if I anticipate a market crash.

The reason SOL has performed so well since post-FTX, when it reached $7, is that the chain’s profitability has improved significantly. Consequently, it is simple to significantly outperform from a low foundation, as the transactions are increasing, the price is extremely low, and the business is currently profitable.

The revenue growth over the past 18 months has been remarkable, and it is consistent with the cryptocurrency’s price increase.”

Solana is currently trading at $203, representing a positive increase of more than 2% from the previous day.

Also Read: MicroStrategy’s Bitcoin winnings reach $10B as BTC hits $80K.