Arthur Hayes, the founder of the popular crypto exchange BitMEX, believes the crypto bull market is already underway. He says the market started its climb in March 2023 when the Federal Reserve pumped trillions of dollars into the banking system to prevent a collapse.
Printing Money Fuels Crypto Growth
Hayes calls this a “stealth” printing of money, which ultimately triggered Bitcoin’s (BTC) surge. He points out that the US, China, Europe, and Japan are all printing money, creating a massive opportunity for crypto.
“Everyone’s printing money, and the US is going to try and print the most amount of money out of everybody,” he said.
Solana is the “Going Up” Crypto
Hayes is particularly bullish on Solana (SOL), Ethereum’s (ETH) main competitor. He thinks SOL will continue to outperform ETH in the short term.
“I think it’s Solana in the short term, and that’s because it’s the ‘going up’ crypto,” Hayes explained. “Why did you buy it? It’s going up. Number go up. Everyone sees the number going up, I’m gonna buy the number go up too. I call it the high-beta Bitcoin. I want some extra juice.”
He believes SOL’s recent surge is due to increased profitability and transaction growth on the Solana blockchain.
Disclaimer
Remember, this is just one expert’s opinion. Do your own research before investing in any cryptocurrencies.
