The post The Bull Run Will Continue Next Year, But Not For All Cryptos appeared on BitcoinEthereumNews.com.

Arthur Hayes has predicted a sustained long-term rally for Bitcoin. Macroeconomic factors in the U.S. will form the tailwind behind a prolonged bull run. Only Bitcoin and some top altcoins will fulfill users’ expectations in the bull run. BitMEX founder Arthur Hayes has touted a prolonged Bitcoin rally following the initial surge attributed to Donald Trump’s election victory. Hayes pointed out that this early boost reflects crypto users’ optimism about Trump’s support for the industry. However, he believes U.S. macroeconomic policies will play a larger role in sustaining the bull run. In a Youtube podcast, Hayes stated that the crypto market’s bullish trend does not hinge on the presidency; instead, hinging on a key factor that can push crypto prices higher to be the monetary decision requiring the U.S. government to print more money from 2025 start. To further explain his position, Hayes stated that the government would print trillions of dollars to fund its defense industry and the healthcare of many Americans. Therefore, even if Kamala Harris had won the election ahead of Trump, the government would still print money, positively affecting the crypto market. Bitcoin Leads 2024 Rally as Altcoin Listings Lag Behind Hayes highlighted that Bitcoin remains at the forefront of the current rally, with Solana being one of the few altcoins to have had the same positive gains. The BitMEX founder believes this development is because of the kind of projects listed in this cycle. According to him, VCs fund most projects, leaving them under pressure to list on centralized exchanges at high FDV with low circulating supply. Read also: Bitcoin’s Bull Run May Begin Post-2024 U.S. Election Results That makes the listed tokens expensive and difficult for retail investors to make money from them. Hayes cited most of the tokens listed in 2024 were down…

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Filed under: News - @ November 8, 2024 9:25 am