BitMEX Founder Says Altcoins Will Rally Soon. Here’s what his portfolio looks like

While the cryptocurrency market is currently experiencing new twists and turns, the fate of altcoins is still unknown. According to BitMEX founder Arthur Hayes, the top two crypto assets by market cap will determine whether altcoins will see a parabolic rally. In a recent blog post, he stated that the cryptocurrency will experience a sharp rise if Bitcoin (BTC) and Ethereum (ETH) maintain their current trends.

He wrote, “If bitcoin and ethereum continue to rally, there will surely be a shitcoin vertical that will go bananas over the next few months. Crypto reserve assets rally first – ie bitcoin and ethereum. The rally in these bullion eventually stalls, and Then the price dropped a bit. At the same time, the shitcoin complex staged an aggressive rally. Then shitcoin rediscovered gravity, and interest moved back to bitcoin and ethereum.

Hayes also said that despite bitcoin missing its 2022 low, he is currently investing in anticipation of a future that, in his opinion, will be brought about by increased market liquidity. He added that part of his portfolio missed out on the initial innings of this recent rally in bitcoin, which was also driven by expectations of upcoming monetary easing.

However, he added that this does not mean they should rule out participating in the next part of the rally, which will be driven by flows from the reverse repo agreement and TGA spending. [U.S. Treasury General Account],

In an earlier tweet, Hayes claimed that he is the largest holder of LOOKS tokens, having more than 17 million of them (worth $5.14 million). The community has taken note of Hayes’ intriguing token holdings.

The native, alternative token of the community-focused LUKS Rare Protocol is LUKS, an NFT marketplace that actively compensates producers and traders for participation. Staking of the LOOKS token generates all platform trading fees for LooksRare.

Source: coinpedia.org