Entering the market before the Bitcoin halving
Arthur Hayes stated that although the Bitcoin block reward halving event on April 20th is considered a significant bullish factor by the cryptocurrency market, he believes that the price dynamics before and after the halving may tend to decline. Arthur Hayes wrote:
Considering that the halving occurs during a period of relatively tight USD liquidity (US tax deadline and Fed balance sheet reduction), this undoubtedly adds more catalysts to the selling pressure of cryptocurrencies, which further solidifies the decision to “pause trading before May.” Arthur Hayes admitted that positions such as MEW, SOL, and NMT have all been profitably exited. These funds have been deposited into Ethena’s USDe and staked to earn substantial returns.
Arthur Hayes emphasized that the market could definitely surprise him, but he is optimistic about the long-term outlook for cryptocurrencies. Therefore, he is happy to see his predictions go wrong, as he does not want to worry about the most speculative altcoins while dancing at the Token2049 event held in Dubai.
Arthur Hayes advised investors to proceed cautiously in April and deploy boldly after May. If they can avoid the potential loss risks in April, they will have sufficient ammunition to establish various cryptocurrency positions in May and enjoy the benefits of a bull market. Finally, Arthur Hayes wrote:
