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Home»Crypto»Altcoins Will ‘Get To Fire’ Once Bitcoin Hits This Price Level, According to BitMEX Founder Arthur Hayes
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Altcoins Will ‘Get To Fire’ Once Bitcoin Hits This Price Level, According to BitMEX Founder Arthur Hayes

April 7, 2025No Comments2 Mins Read
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Arthur Hayes, the founder of BitMEX, suggests that altcoins could see a surge once Bitcoin surpasses a certain price range. In an interview on Crypto Banter, Hayes, who also founded crypto investment firm Maelstrom, foresees Bitcoin maintaining its dominance in the crypto market for the foreseeable future.

However, Hayes predicts that once Bitcoin climbs well above $100,000, riskier crypto assets are likely to gain momentum. He states, “We accelerated a bit after the recent Fed press conference where Powell announced the reduction of QT (quantitative tightening) and sort of teased QE (quantitative easing). We accelerated a bit, and if the market continues to collapse a bit, we’ll probably accelerate even more in terms of deploying capital. Most of what we’re buying is Bitcoin, I think Bitcoin dominance – that is the percentage of Bitcoin in the whole cryptocurrency market – continues to rise, and then at some point, let’s say Bitcoin’s at $110,000 or $120,000 or some level, then altcoins will start to get on fire, and we’ll rotate out of that and into some things that we really like.”

In the altcoin realm, Hayes believes that Ethereum (ETH) will surpass Solana (SOL). He explains, “I hold a lot of Ethereum, I think at some point, the Ethereum hate is going to change. Usually, the most hated asset is the best-performing asset in the next cycle and the most loved is the worst-performing. It’s just mean reversion; it doesn’t necessarily mean that one is better than the other. But if I had to deploy a fresh dollar of capital today, I’d buy ETH rather than Solana just because ETH is more hated than Solana. And I think the memecoin fad is going to be done for a while, not to say it’s going away, I think memecoins are going to be here to stay for a very long time, but a lot of retail people lost a lot of money, and they’re not going to be slinging stuff on Pump.fun and creating transaction fees for Solana as much as they used to. So I think that narrative about Solana being the memecoin L1, that’s going to hurt its ability to really outpace other L1s in the cycle.”

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