Bitmex founder Arthur Hayes says Altcoins can finally see a boost once bitcoin (BTC) breaks a certain price range.
In a new interview at Crypto Banter, Hayes, the founder of the Krypto investment company Maelström, says that he expects Bitcoin to continue to dominate the crypto market for some time.
But Hayes says that when BTC floats well over $ 100,000 again, risky crypto assets will probably start to shine.
“We accelerated a little after the last Fed press conference where Powell announced the reduction of QT (quantitative tightening) and a kind of teased QE (quantitative relief).
We accelerated a bit, and if the market continues to collapse a bit, we will probably accelerate even more when it comes to distributing capital. Most of what we buy is bitcoin, I think Bitcoin -dominance – it is the proportion of bitcoin on the entire Cryptocurrency market – continues to rise, and then at some point, let’s say bitcions to $ 110,000 or $ 120,000 or some level, then Altcoins will start shooting, and we will really rotate. “
In the Altcoin space, Hayes says he is looking for Ethereum (Ethics) to surpass solean (Solar).
“I have a lot of Ethereum, I think at some point, the Ethereum hat will change. Usually the most hated access is the best performing access in the next bike and the most loved one is the worst result.
It’s just meaningful reversal; This does not necessarily mean that one is better than the other. But if I had to distribute a new dollar in capital today, I would buy ETH rather than Solana just because ETH is more hated than Solana.
And I think the Memecoin fashion will be done for a while, not to say it disappears, I think Memecoins will be here to stay for a long time, but a lot of retail lost a lot of money, and they will not throw things on pump. Fun and create transaction fees for Solana as much as they used to.
So I think that story of Solana is Memecoin L1, which will harm its ability to really surpass other L1 in the bike. “
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