The cryptocurrency market has entered a bullish growth cycle

Do you doubt the need to buy Bitcoin? Then listen to the words of the CEOcryptocurrency exchange BitMEX Arthur Hayes.The day before, he stated that the cryptocurrency market had officially entered a bullish cycle, meaning that the price of BTC should rise significantly in the foreseeable future. As well as other coins.

What will happen to cryptocurrencies?

At the beginning of this week, the cost of Bitcoin (BTC)managed to jump to the level of $ 11,300. As of this writing, BTC is trading on the $ 11,100 line. Recall that before that, the price of the main cryptocurrency had fluctuated around $ 9,200 for more than a month. The market even recorded a record for the minimum volatility of an asset for quite a long time.

That is, the cryptocurrency was too calm, and its rate movements were extremely insignificant.

Note that last week experts notedreduction of this indicator. Then the 30-day volatility of the Bitcoin rate dropped below 20 percent. And according to IntoTheBlock analysts, this is only the second time in the history of cryptocurrency.

Now the situation has changed. Over the past week, the Bitcoin rate has grown by at least $ 2000. Naturally, key representatives of the cryptocurrency industry could not help but notice what was happening and not react to it. Among these people was the co-founder and head of the popular cryptocurrency exchange BitMEX, Arthur Hayes.

Here is Hayes's quote and tweet, with which he rather eccentrically marked the official start of the bull cycle:

«It's a fucking bull market, are you ready or what!!!!!»

IT’S A FUCKING BULL MARKET ARE YOU READY!!!!! pic.twitter.com/GNtalIQwDI

- Arthur Hayes (@CryptoHayes) July 27, 2020

The CEO of BitMEX attached a still from the film to the message"The Americans," in which actor Alec Baldwin's character explains his strategy for a brilliant divestiture. That is, Arthur made it clear that we may soon have a great opportunity to reset our coin reserves at a great price. At least this is how the message is interpreted.

Then Arthur once again commented on what was happening:

«I told you all about my rocket pockets. Now I will turn on Scrooge McDuck mode in this market.

I told y’all about my pocket rockets. I’m ’bout to go Scrooge McDuck on this mother fucker. pic.twitter.com/4WFe4SHENQ

- Arthur Hayes (@CryptoHayes) July 27, 2020

So Hayes really believes in a new stage.growth of the cryptocurrency market and plans to make money on it. Recall that cryptocurrency exchanges also receive money from user transaction fees. Therefore, the more people now rush to the stock exchanges, the more will be the income of their management - including Arthur.

Arthur ended the tweet parade with a GIF. It shows the attitude towards a person who does not long Bitcoin - that is, does not believe in its growth.

«I pity the fool».

If you aren't long #bitcoin … pic.twitter.com/hUwogY1ZQV

- Arthur Hayes (@CryptoHayes) July 28, 2020

But Binance CEO Changpeng Zhao is more restrained in his comments on the market situation. It encourages users to be very careful.

Cryptozyme is already leaving and more and more people are entering the industry. Please study risk management. Don't bet all your funds on one trade or even one asset.

As the winter ice begins to thaw and more people getting into #crypto, please learn risk management. Don’t risk everything you have on one trade or even one asset. Stay #SAFU.

- CZ Binance (@cz_binance) July 27, 2020

However, Zhao will not follow his advice - yet his situation is very different.

«I myself do not follow this advice, because 99%my capital is tied up in one asset. But I have a big [safety] cushion. And I'm still an entrepreneur. Everyone's situation is different. Manage your risks accordingly».

I don't follow this advice myself as I have 99% of my net worth associated with one asset. But I do have a larger cushion. And I am still an entrepreneur.

Everyone's situation is different. Manage your risks accordingly.

- CZ Binance (@cz_binance) July 27, 2020

Zhao voiced the golden rule of every goodtrader and investor - “don’t put all your eggs in one basket.” Risk management is perhaps the only technique that is most likely to save your money in cryptocurrencies. Therefore, try to wisely distribute your capital across a whole list of assets and do not invest in just one coin.

Be that as it may, the message of cryptocurrencywe understand entrepreneurs. They feel that the market situation has really changed, and now it is possible to speak louder and louder about the approaching bull run. We hope their predictions and statements turn out to be true, and we will see a repeat of 2017 in the next few months.

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