BitMEX CEO Arthur Hayes has acknowledged missing out on the recent crypto market rally due to a wrong forecast. According to him, he is preparing for a definite altcoin rally scheduled for the coming months, with an eye on the U.S. Treasury General Account (TGA) for market signals.
In his recent blog post, Hayes elaborated on his thoughts about the current crypto market situation, juxtaposing it with macroeconomic factors influencing the prices of risky assets. He explained how focusing on the larger picture made him miss out on the latest Bitcoin rally.
In a previous post, Hayes explained how the monetary policies of the Federal Reserve would negatively impact cryptos. He predicted that a likely Fed decision would trigger a correction in risky asset prices, including cryptos. While waiting for this to play out, Hayes, reportedly, missed out on the more short-term factors that support and justify the current rally.
According to …
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Source: Cryptocurrency - investing.com
