Buy Crypto In May, Go Away: Arthur Hayes Shares His Top Altcoin Picks
Summary
Arthur Hayes, BitMEX founder, discusses crypto market turmoil attributing it to US tax season end, Fed policy fears, Bitcoin halving, and stagnant AUM for US Bitcoin ETFs. He sees it as a necessary speculative purge. Hayes scrutinizes Fed's QT adjustment, interpreting it as covert QE, injecting $35B monthly. He predicts Treasury's increased borrowing could raise long-end rates, prompting Yellen to implement yield curve control, potentially boosting crypto prices. Hayes advocates buying Solana and doggie coins, expecting crypto prices to gradually rise due to US monetary policies. He predicts Bitcoin to range between $60,000 and $70,000 until August due to the annual summer lull. BTC currently trades at $59,393.
