Arthur Hayes issued a new bulletin advising investors to “buy the dip” and hold Bitcoin long-term, claiming it is the best way to preserve their wealth in uncertain times.
Despite the current bear market, Hayes sees an opportunity to strengthen positions. Last week, the market experienced significant declines due to two main events. First, concerns about Mt. Gox’s spending shook Bitcoin. Then, pressure from Germany and the USA intensified sales.
The market’s negative reaction was expected, resulting in the Fear and Greed Index reaching levels unseen since the beginning of 2023. Investors, especially those using leverage, felt the impact as recent gains were wiped out.
Read more:
Top analyst warns of Bitcoin price
The July 4 celebrations were overshadowed by the market downturn. In an attempt to balance the situation, Justin Sun, founder of TRON, offered to buy Germany’s BTC tokens.
Hayes noted that while Bitcoin and the Nasdaq 100 have moved together in the past, Bitcoin has recently struggled with challenges. He points out the shift towards a multipolar global economy by BRICS countries and predicts continued government financing through repression and fiat money printing, leading to inflation.
The expert 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 emphasizes that the value of Bitcoin does not depend on any state. Currently, bears dominate the BTC market, with most technical indicators pointing to a downward phase. However, Hayes believes it will take time before the leading cryptocurrency enters a true bear market.
