Arthur Hayes, the co-founder of BitMEX said there is one big requirement for the coming altseason.
Bitcoin’s gotta smash through that $110,000 ceiling before the party even starts. No $110K? No party yet.
Only the strong?
Hayes says Bitcoin isn’t just cruising to $110K for fun. No, no. It needs to break that level and then rocket toward somewhere between $150,000 and $200,000, all while trading volume is pumping like a nightclub on a Saturday night. Only then, my friends, will the altseason kick off.
What’s altseason? It’s that magical time when altcoins start outshining Bitcoin, making traders drool over the juicy potential profits.
Every trader and degen looks like an investing genius. Historically, it’s like a relay race, Bitcoin leads, then passes the baton to altcoins for the big sprint.
Right now, Bitcoin’s been the star of the show, climbing steadily. Alts? They’re lagging behind, slow to catch the hype train.
Hayes thinks this next altseason won’t be like 2021’s, where every token, no matter how sketchy, shot up like fireworks on the Fourth of July. Nope.
This time, it’s gonna be more selective. Only the strong, the real-deal projects with solid fundamentals will get the spotlight.
Patterns
He’s got zero patience for those dino coins, you know, the ones with sky-high fully diluted valuations, tiny circulating supply, no customers, no revenue, just some exchange listings.
Many of these have tanked 95%, and Hayes bluntly says, he don’t see why those should do well next cycle. Harsh? Maybe. But hey, sometimes you gotta call it like it is.
Now, about Bitcoin’s future, Hayes is bullish, to say the least. He expects Bitcoin to hit $200,000 in its next surge and possibly $250,000 by year’s end.
And get this, by 2028, he’s betting Bitcoin will grow to $1 million, coinciding with the end of Trump’s term. Coincidence? You decide.
Up and down
Bitcoin just hit a high note on May 18, closing above $106,000 for the sixth week straight. The rally’s been fueled by steady inflows into spot Bitcoin ETFs and solid corporate interest.
It even flirted with $107,000 on Sunday before cooling off a bit, trading near $103,000 now in the time of writing, still a respectable 6% shy of its all-time high from January.
Oh, and Hayes isn’t putting all his eggs in one basket. He’s got about 20% of his portfolio in gold, actual, physical gold locked away in a vault and gold mining stocks that he thinks are still undervalued, despite gold’s price surge.
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