Arthur Hayes Will Invest in These Cryptocurrencies in May.
Hayes predicted this market correction due to factors such as the US tax season, uncertainty regarding Fed actions, and Bitcoin halving. He also believes that this phase will weed out the âtouristsâ from committed investors and highlight the resilience of crypto enthusiasts who will return when the market recovers.
However, Arthur Hayes outlines his cryptocurrency investment strategy for the coming month in his âMaydayâ article. Despite recent market turbulence, Hayes maintains a bullish stance on the crypto market and highlights the resilience of major assets like Bitcoin and Ether.
Meanwhile, he dismisses concerns about short-term price fluctuations. He attributes these to factors such as uncertainty about the US tax season and the Fed's actions. On the other hand, while Hayes advocates the accumulation of Bitcoin and Ether as long-term reserve assets, he also expresses interest in high-beta altcoins.
Other altcoins defended by Arthur Hayes include Solana (SOL), dogwifhat (WIF), and especially Dogecoin. Additionally, the investment thesis revolves around gradual injection of liquidity into the market. He believes this will buffer against downward price pressure and pave the way for a gradual upward trend.
He said he was considering Dogecoin and Solana for âmomentum trading positions,â while he would bet on Pendle for long-term positions. Arthur Hayes in particular highlights the need for strategic investments and hints at taking a more interventionist approach, allowing the market to reflect the inflationary impact of recent US monetary policies once positions are established.
Talking about the prices of Arthur Hayes' favorite predictions, the Bitcoin price increased by 2.49% to $59,313.29, while the trading volume decreased by 29.21% to $29.57 billion. Ethereum price increased by 1.38% to $2,978.46, while Solana price increased by 3.91% to $138.24.
