Bitcoin’s ups and downs and how it’s different from typical investments could be why it’s getting a lot of money from regular financial markets. This is what Arthur Hayes, who used to run BitMEX and now works at Maelstrom, thinks.
Hayes, who was an early bitcoin trader, said that exchange-traded funds (ETFs) for bitcoin could give traders new opportunities to trade as the asset’s prices continued to rise. Prices change a lot, so people can earn money by buying and selling at the best times.
“People from all around the world buy and sell Bitcoin. The main place where its price is decided is called Binance, and I believe it’s in Abu Dhabi. ” Hayes believes that people can make a lot of money in the bitcoin markets for a long time.
“Hopefully, smaller exchanges in the East will see a lot of money being traded quickly. ” “He said there will be a good chance to make money by trading in various markets. ”
Hayes believes that new investment funds will be available in large Asian markets like Hong Kong, specifically designed for Chinese people who want to invest their money. He thinks that having controlled stock and crypto exchanges could give more opportunities to make money in the market.
More and more people might start investing in ETFs as bitcoin trading becomes more popular. Banks could start offering loans in traditional currency using people’s bitcoin investments. They could earn money from the price difference and also influence people’s interest in bitcoin. This could make the market even worse.
Meanwhile, in January, Hayes said he believes the price of bitcoin will decrease by 30%. Many traders believe that the price will go down to $38,000 and then go up again.