Three Arrows Capital Analyzes the Situation of Bitcoin and Altcoin Markets

Kyle Davies, co-founder and chairman of crypto-focused hedge fund Three Arrows Capital, believes there will not be a repeat of 2017's bull market in the current market cycle. In a new video, Davies says that while Bitcoin and altcoins are in a super cycle, crypto markets will still see significant corrections. “With a super cycle… there is still volatility. So, specifically for Bitcoin, a fixed asset… That doesn't mean we're going into a four-year bear market. It just means we're fixing it and okay… now we've fixed it, let's move on, okay. This is no more of a mis-sell than you actually think.” The head of Three Arrows Capital explains that Bitcoin's nearly 50% price drop from its all-time high was due to negative news such as pressure on miners in China rather than traders having too much leverage. “This pullback was tough… It wasn't because we had a lot of leverage… It was pretty big news, like China actively trying to shut down hash power – not all over the world. country. For example, everyone in Xinjiang shut down their miners. Chinese miners go elsewhere to make backups. Sichuan hasn't happened yet, but it could very well be in the next 36 months.” Davies adds that Three Arrows Capital benefited from the correction when the company took a short position in Bitcoin, so the hedge fund is currently the best most profitable asset on the FTX cryptocurrency exchange. .Bitcoin hedged and made a lot of money out of it, and that's why we know you know… with other fundamental traders they may be in the middle of the FTX leaderboard right now. That's why we're number one. Because we're based in that market a little bit longer.” I don't miss a thing – Subscribe to receive crypto email notifications straight to your inbox Follow us on Twitter, Facebook and Telegram Su

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