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華爾街日報Arthur Hayes Says Altcoin Season Is Here, But Investors Are Too Afraid To Participate — Calls This Coin 'Best Story' Of Cycle
Arthur Hayes, co-founder of cryptocurrency exchange BitMEX and Chief Investment Officer at Maelstrom Fund, said in a Friday interview that the so-called Altcoin Season was always there, but that people were just “afraid” to invest their money in the right coins.
Hayes Says New Coins Pump In New Season
During an appearance on the Kyle Chassé podcast, Hayes urged investors to “use their brains” to track what is working in the current market.
“This is a new season. New things pump. So either you adjust and have a framework around how you’re going to appreciate what is new, or you’re always looking in the past,” he argued.
Hayes referred to the dramatic rise of Hyperliquid (CRYPTO: HYPE), which he described as the “best story of the cycle.”
Notably, the coin rose to an all-time high of nearly $60 after starting at $3 a year ago, but has since cratered more than 58%.
“There is always an altcoin season happening. Most people are just too afraid to participate,” Hayes emphasized.
Is Altcoin Season Really Over?
Notably, CoinMarketCap's Altcoin Season Index had a value of 17 as of this writing, indicating a "Bitcoin Season." Altcoin Season typically occurs if 75% of the top 100 coins outperform Bitcoin over the last 90 days.
Moreover, the total market share of altcoins, excluding Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), shrank from 31% at the beginning of the year to 28.8% as of this writing.
Bitcoin Prediction
Hayes’ comments come at a time when Bitcoin is consolidating below $90,000. He predicted last week that a powerful liquidity-driven move could propel the leading cryptocurrency to $200,000 by 2026.
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