Arthur Hayes Outlines Crypto Trading Strategies For 2024 Bull Market: 'It's Pretty Simple'

Bitcoin BTC/USD billionaire and co-founder of BitMEX, Arthur Hayes revealed his trading strategies for this year's cryptocurrency bull market.

What Happened: In an interview with the Coin Bureau, Hayes was asked about his mantra for the year, which has seen significant surges in the value of top cryptocurrencies.

"Be long," the billionaire Bitcoiner responded, although in a playful jest. "Don't sell, don't get shook, don't use too much leverage, I mean it's pretty simple like everyone knows what they should be doing."

Hayes reiterated that continued expansion of the monetary base would provide more strength to cryptocurrencies, especially Bitcoin.

"If you believe that central banks and governments are in debt and will continue to print money, we’ll continue to hand out you know welfare to buy votes or support from the population at large then crypto is the answer, and obviously, Bitcoin is the OG," the entrepreneur emphasized.

Why It Matters:  Arthur Hayes, one of the keen observers of the cryptocurrency market and the U.S. macro economy, said last month that Bitcoin would gain strength as economies chose to avoid raising interest rates.

He also underlined the importance of the upcoming presidential elections, foreseeing significant monetary easing as leaders would dole out financial incentives to secure an election win.

Hayes' comments come as top cryptocurrency analysts continue to have a bullish view of the markets. 

Price Action: At the time of writing, Bitcoin was exchanging hands at $69,415.47, trading mostly flat in the last 24 hours, according to data from Benzinga Pro. 

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