Here’s When Altseason Will Arrive to Crypto Markets, According to BitMEX Founder Arthur Hayes
Crypto veteran and BitMEX founder Arthur Hayes is updating his outlook on when altcoins could have their time to shine. In a new essay, Hayes says that he expects the crypto market to respond positively to an anticipated massive injection of liquidity into the financial system from US Treasury Secretary Janet Yellen’s issuing US Treasury bills (T-bills). Hayes says the new liquidity could cause Bitcoin (BTC) and Ethereum (ETH) to soar, while at the same time setting the stage for an “altseason.” “Therefore, taking Bad Gurl Yellen’s word, we know that $301 billion of T-bills will be net issued between now and year-end. If this relationship holds true, Bitcoin will quickly retrace the dump caused by the yen strengthening. The next stop for Bitcoin is $100,000.” Hayes believes that the altseason could take off within months if certain market conditions are met. “Sh*tcoins are higher beta Bitcoin crypto plays. But during th...