Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Arthur Hayes says Solana is a high-beta Bitcoin amid US elections

Arthur Hayes says Solana is a high-beta Bitcoin amid US elections

Cryptobriefing2024/11/02 06:11
By:Cryptobriefing

Key Takeaways

  • Hayes suggests Solana could be a strong play amid election volatility, potentially outperforming Bitcoin in bullish trends.
  • The Federal Reserve's monetary policy is expected to have a more significant impact on digital assets than the US election outcomes.

Arthur Hayes, co-founder of BitMEX and CIO at Maelstrom, favors Solana ahead of the US elections, describing it as a “high beta Bitcoin” during an appearance on the Unchained podcast.

With the elections just days away, Hayes explained that Solana is a good bet because it is highly liquid and likely to jump if Bitcoin performs well.

Additionally, Hayes asserted that, in the long run, it doesn’t matter who wins the US election, as the overarching influence on digital assets will be the FED’s decision on whether to cut rates on November 7.

“The bigger picture remains focused on the Federal Reserve’s monetary policy rather than the immediate outcomes of the elections,” he explained.

Hayes also remarked that he favors Solana over ETH, describing Ethereum as ‘too slow’ right now and in need of a narrative shift to change people’s mindset about its poor performance in recent months. 

He noted that Solana currently has the ‘mind share,’ moves quickly, and will likely outperform Bitcoin when the market pumps, whereas Ethereum is ‘equal beta’ to Bitcoin, or perhaps even a bit lower.

During the podcast, Hayes pointed out that Solana’s impressive rise from around seven dollars to over one hundred and eighty dollars, particularly post-FTX collapse, underscores its ability to gain and hold value rapidly. 

Hayes also touched upon regulatory aspects, cautioning that significant improvements in crypto regulations are unlikely, irrespective of political changes. 

His advice to investors and traders is to focus more on market fundamentals rather than political developments, which often have transient impacts on market dynamics.

The session wrapped up with Hayes emphasizing the strategic importance of selecting high-beta assets like Solana during times of predicted monetary easing. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like