Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
BitMEX Co-founder Arthur Hayes is encouraging crypto investors to maintain their conviction and stay committed to the ongoing bull market.
What Happened: In his latest blog post titled “Left Curve,” Hayes urges investors not to succumb to the temptation of taking profits prematurely.
Hayes emphasizes the current macroeconomic environment, characterized by major economies debasing their currencies to deleverage government balance sheets. He sees this as the fundamental reason behind the aggressive crypto rally against fiat currencies.
Hayes predicts that this narrative will only gain strength as the sovereign debt bubble begins to burst.
“Bull markets don’t come often; it is a travesty when you make the right call but do not maximize your profit potential,” Hayes writes. He advocates for a “Left Curve” mentality, where investors continuously buy and hold cryptocurrencies throughout the bull market period.
In his concluding remarks, Hayes calls on “all degens” to embrace the Left Curve approach, urging investors to maintain their conviction and allow their winning investments to continue growing until real rates turn positive.
Also Read: Bitcoin’s Consolidation Is The ‘Calm Before The Storm,’ Veteran Trader Lark Davis Writes
Why It Matters: Hayes points to the increasing institutional adoption of Bitcoin (CRYPTO: BTC), particularly with the emergence of spot Bitcoin ETFs in the U.S., U.K. and Hong Kong. This recognition from traditional finance underscores Bitcoin’s potential as a hedge against currency debasement and negative real yields.
Bitcoin, in Hayes’s view, serves as an escape valve for investors during periods of economic uncertainty, thanks to its finite supply and resilience against currency depreciation.
Looking ahead to the 2024 U.S. presidential election, Hayes predicts further economic stimulus measures aimed at maintaining negative real yields on government bonds, further bolstering Bitcoin’s appeal as a hedge asset.
What's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
Read Next: Bitcoin Could Soar Up To $1M, Says Strike CEO Jack Mallers: ‘Violent To The Upside’
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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