[Arthur Hayes reveals the biggest obstacle to Bitcoin and altcoin rebound! Comparing Ethereum and Solana: Who Will Win? 】
Former BitMEX CEO Arthur Hayes recently stated in an interview with The Big Whale that the U.S. presidential election is the biggest obstacle to the cryptocurrency market at the moment. He expects Bitcoin to regain momentum once uncertainty over the election outcome is removed, but it could take 3 to 6 months for the outcome to be determined.
Hayes believes that the election will affect the price trend of Bitcoin. After the election, increased government spending and the depreciation of the U.S. dollar will help increase the value of Bitcoin and the crypto market. He reminded investors to remain cautious during the election.
Hayes also talked about Ethereum (ETH) and Solana (SOL), believing that although Solana is innovative and competitive, it is very difficult to surpass Ethereum because Ethereum is still the leader in application innovation and number of developers. Solana’s market capitalization is only a quarter of Ethereum’s, and while the rise of memecoins has been beneficial to Solana, Ethereum’s continued growth has made it difficult for altcoins to overtake.
