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Arthur Hayes Advises Investors to Buy the Bitcoin Dip

Arthur Hayes Advises Investors to Buy the Bitcoin Dip

Cryptodnes2024/07/08 05:22
By:Cryptodnes

Arthur Hayes has issued a new newsletter, advising investors to "buy the dip" and hold onto Bitcoin, arguing it's the best way to safeguard wealth in uncertain times.

Despite the current bearish market, Hayes sees it as a chance to solidify positions.

Last week, the market saw significant drops due to two main events. First, concerns over Mt. Gox repayments rattled Bitcoin . Then, both Germany and the US added to the selling pressure.

The market’s negative reaction was expected, causing the Fear Greed Index to hit lows not seen since early 2023. Investors, particularly those using leverage, have felt the impact, with recent gains wiped out.

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Fourth of July celebrations were dampened by the market downturn. In an attempt to stabilize the situation, Justin Sun, founder of TRON , offered to buy Germany’s Bitcoin holdings.

Hayes observes that while Bitcoin and the Nasdaq 100 used to move together, Bitcoin has struggled to keep up recently. He notes the push towards a multipolar global economy by BRICS nations and predicts ongoing government funding through repression and fiat printing, leading to more inflation.

Hayes advises: “If you trust the system but not its leaders, invest in stocks. If you trust both, invest in government bonds. If you trust neither, invest in gold or Bitcoin.” He highlights that Bitcoin’s value doesn’t depend on any state.

Currently, the bears dominate Bitcoin’s market, with most technical indicators pointing to a bearish phase. However, Hayes believes it will take time before Bitcoin enters a true bear market.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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