Arthur Hayes Rebuys ETH Amid Price Rally and Swears Off Profit-Taking
Main Idea
Arthur Hayes sold a significant portion of his ETH holdings, predicting a bearish market, but ETH's price surged, leading him to buy back and promise not to take profits again.
Key Points
1. Arthur Hayes sold over $8 million worth of ETH, PEPE, and ENA, citing a bearish outlook for the crypto market.
2. Hayes attributed potential market turbulence to Trump's foreign policy.
3. Despite Hayes' prediction, ETH's price surged, breaking past $4,000 and reaching a multi-year high of $4,200.
4. Hayes admitted his miscalculation on social media, stating he had to 'buy it all back' and promised not to take profits again.
Description
The cryptocurrency space is a compelling industry that tends to prove many doubters wrong, even veterans and seasoned participants such as BitMEX’s co-founder, Arthur Hayes. As reported last week, the current Maelstrom exec sold a big portion of his portfolio as he envisioned a more profound market-wide correction was in the making. At the time, Hayes disposed of more than $8 million worth of ETH, alongside some PEPE and ENA holdings. Later on, he owned up to the move, saying that the US Federal...
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