Billionaire of cryptocurrencies foresees rally of Bitcoin, despite SEC process against Binance

While investors in the cryptocurrency market are in a panic after the US Securities and Exchange Commission (SEC) sued Binance and Coinbase, two of the world’s largest brokerages, billionaire Arthur Hayes shared his perspective on the future.

The ex-CEO of Bitmex expresses optimism, affirming that the market will recover and reveals his strategy of buying “shitcoins” — less well-known or low-value cryptocurrencies.

This strategy reflects the principle of buying low and selling high, and may represent an opportunity for investors who accredit the long-term potential of cryptocurrencies.

Furthermore, Hayes stated that the “wall of concern is escalating”, encouraging his followers to join the “high market bus” for Bitcoin.

“The wall of concern is being scaled, come with me on the Bitcoin bull market bus. We are still on the street of mourning, but the moon is not long.” wrote There is.

Corrida de touros no horizon

Although cryptocurrencies may be going through price drops, Hayes suggests that the continued influx of money into the market will aid in the recovery of value.

The recent recovery of Bitcoin, even after two SEC lawsuits, brings optimism to analysts, who see signs of the start of a new bull run.

After facing strong selling pressure due to the SEC process against Binance, Bitcoin saw a significant recovery, approaching the US$ 27,000 mark at this fourth fair (7).

Bitcoin high 7 6 2023

As regulatory pressure from the SEC has caused turbulence in the markets, investors are demonstrating a willingness to ignore these events and continue investing in cryptocurrencies.

The V-shaped recovery in the price of Bitcoin resulted in the liquidation of many sold positions, after an excess of bets against the market. Also disso, or two investors are interested in buying during it is increasing significantly as the prices of the cryptocurrencies are corrected.

The ongoing processes between the SEC and major cryptocurrency exchanges have the potential to set a crucial precedent for the future of the market.

If the courts support the SEC and classify several digital assets as transferable securities, this could lead to a substantial transformation in the regulation of cryptocurrencies, granting regulatory authority to the SEC over those assets.

The uncertainty continues to surround the cryptocurrency market, plus the resilience demonstrated by Bitcoin and optimism, two analysts suggest the possibility of a new bull run on the horizon.


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