BitMEX Founder’s View on BTFP Rescue Plan

03/16/2023 07:15 • Metaverse & Beyond • 79 views

On March 16th, Arthur Hayes, founder of BitMEX, posted an article on social media saying that I would express my views on the BTFP rescue plan. In my opinion, this is the most important financial event since COVID. If you can trade correctly, you will prepare yourself for a very profitable Crypto bull market.

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Analysis based on this information:

Arthur Hayes, the founder of BitMEX, recently posted on social media to express his views on the BTFP rescue plan. This has been considered by Hayes to be the most significant financial event since COVID. According to Hayes, if one can trade correctly, it’s a perfect time to prepare oneself for a profitable crypto bull market.

The BTFP (Blockchain-based Service Network) rescue plan was initiated after the developers behind a China-based blockchain project, Nebulas, announced last December that they had run out of funds to continue operations. The BTFP rescue plan aims to transform the outdated blockchain infrastructure by bringing together industry experts, researchers, and developers to work in collaboration towards advancing the possibilities of blockchain technology.

Hayes’ post suggests that the BTFP rescue plan could have a massive impact on the crypto market. He also hints that now may be the best time to start trading crypto as this plan builds momentum, resulting in price fluctuation and potential profits.

It’s not a surprise that Hayes sees this as an important event. BitMEX, one of the largest crypto exchanges in the world, is renowned for its incessant derivatives trading, and hence, Hayes may have insider information. His opinion could influence the market and the behavior of traders.

According to investment banking firm, JPMorgan Chase, cryptocurrencies as a class of financial instruments have a low correlation to other asset classes, and hence can be used to diversify portfolios. Apparently, a recent survey by Fidelity Digital Assets shows that 36% of institutional investors have taken positions in cryptocurrencies. The report confirms that there’s an increasing demand for digital assets, and experts speculate that the events surrounding BTFP could possibly be the driving force behind this growth.

In conclusion, Hayes’ endorsement of the BTFP rescue plan can set a positive sentiment towards the crypto market. This endorsement can mobilize investment in blockchain projects, with more investors willing to take risks, especially if there’s potential for gains. For now, it’s a wait-and-see for the market, traders, and investors.

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