Arthur Hayes, the co-founder of BitMEX, insists that Bitcoin (BTC) will have a strong week because of potential market shifts, which might benefit altcoins like Sui (SUI).
Here, we discuss how Bitcoin’s surge will support altcoins and how this new DeFi platform could take the lead in the next crypto bull run!
Arthur Hayes predicts a bullish week for Bitcoin
The co-founder and former CEO of BitMEX, Arthur Hayes, believes Bitcoin might be in for a great week.
On September 8, 2024, he closed out a BTC short position, recording a 3% profit, enough to cover food and bar tabs for Korea Blockchain Week (KBW). He said that if certain market conditions continue deteriorating, Bitcoin might see a surge in value.
Hayes has been vocal about his dissatisfaction with the Federal Reserve’s policies. He believes they have not done enough to curb government spending, the real driver of inflation.
At this point, he expects Treasury Secretary Janet Yellen to step in and inject some liquidity into the market, just as she did in 2023 when the bond yields surged.
If this scenario persists, it will affect the stock market, threaten the health of smaller banks, and push mortgage rates higher. This combination will enable Bitcoin to benefit from the resulting chaos.
More liquidity in the system is a great thing for risk assets like BTC. If Yellen does not act fast, the situation might spiral into a massive crisis that could shake the US economy.
On the other hand, if Yellen reacts quickly, Bitcoin will begin to chop sideways, while altcoins might drop further.
Bitcoin seems ready for a bullish week, currently valued at $55,191.16, down 5.30% in the past week. The price is consolidating with data and market sentiment, leaning toward a food week for BTC.
Sui blockchain achieves sub-second latency
The Sui blockchain reached a remarkable milestone one month after it launched its Mysticeti update on the Mainnet. Notably, Sui has now recorded sub-second latency across many regions globally. This development further strengthens its reputation as the fastest consensus mechanism in the blockchain sector.
SUI has performed well in recent weeks, making it one of the best-performing altcoins in the sector. SUI’s recovery happened in a high-volume environment.
Data by CoinGecko indicates that the coin’s volume in the spot market has been in a gradual surge. With Bitcoin rising slightly, analysts believe it will help push the altcoins market higher.
Furthermore, Sui’s open interest in the futures market has surged in the past week and is oscillating near its highest point since August 13, 2024.
With SUI’s recent developments, the altcoin is expected to surge considerably, underpinned by multiple positive fundamentals. SUI was trading at $0.9216, up 20.73% in the past week.
Meanwhile, crypto market experts say SUI will hit $1.0015 in September, supported by positive developments in its underlying network.
FXGuys is revolutionizing DeFi with advanced features
FXGuys is a decentralized FX platform dominating the decentralized finance (DeFi) space by storm. It is designed with robust features and advanced technology that improve its security and privacy. On that note, FXGuys has an operating concept that empowers investors with real rewards and capital.
Furthermore, FXGuys has a huge portfolio of tradable products designed with its community in mind. Its analytical tools and funded accounts share high-quality learning strategies and news, which help investors earn huge profits.
This platform has been an active community hub for traders since 2017. Remarkably, FXGuys offers Forex news and allows investors to interact with like-minded people to exchange trading ideas and information as they learn how the crypto space operates.
The groundbreaking project is fueled by a utility token, $FXG, which allows holders to vote on platform activities. According to the team, the $FXG token enables holders to access trading discounts, rewards, and benefits.
FXGuys’ legitimacy in the market was proven by Soken auditing the $FXG smart contract. Investors are rushing to buy $FXG because of its increased privacy since it has no KYC checks.
Additionally, simulated evaluation challenges for the FXGuys Trader Funding Program will start in Stage 4 of the presale. According to its roadmap, the trading platform will go live in Stage 6. Its seed funding round was completed by FXGuys email subscribers in 24 hours when each $FXG token was sold at $0.010.
Currently, the private sale phase values the token at $0.015. $FXG’s official Stage 1 public sale will begin in ten days. Thus, Seed investors have recorded 50% ROI, and they will make 200% profit after $FXG transitions to Stage 1 of its public sale, valued at $0.030.
FXGuys poised to dominate among top altcoins
Arthur Hayes’ prediction of a great week for Bitcoin may have huge implications for the general crypto market, mainly for altcoins like Sui and FXGuys.
As Bitcoin enjoys increased liquidity and market volatility, Sui’s rapid gains and technological advancements position it for massive growth.
On the other hand, FXGuys is expected to capitalize on the bullish sentiment as more investors rush to buy $FXG in presale due to its huge rewards. Now is the time to join the $FXG presale before it leaves other altcoins in the dust and skyrockets to the moon!