Arthur Hayes paid dearly for Ethereums sold cheaply
Founder of the exchange BitMEX Arthur Hayes made the deal of the century by selling Ethereum at $3,500 and buying the coins when they were around $4,000.
In early August, Hayes made a forecast on the fall in the value of ETH to $3,000 and before that got rid of 2,373 ethers for $8,32 million. However, he was wrong in his estimates, and the cryptocurrency rate, on the contrary, went up, broke through $4,000 and on August 10 reached a peak at $4,332. However, Arthur did not lose his head and on Saturday bought ETH for $10,5 million at a rate of about $4,000. That is, he paid 14% more for the coins than he received for them a week ago.
USD Coin (USDC) stablecoin transfers to buy Ethereum made by Arthur
«I had to buy it all back, Thomas Lee [chief information officer at the consulting firm Fundstrat Capital], forgive me? I swear on my mother, I will never take profits again,» Hayes commented on his actions.
Arthur took a risk by buying the cryptocurrency when its price reached a multi-month peak. Interestingly, a trader under the pseudonym Merlijn The Trader believes that ETH will rise in price to $20,000 this year. So if the trader is right and Hayes is patient, he will be able to multiply his capital fivefold.
«He [Hayes] sold to reduce risk and bought back because the market told him to. That’s what real traders do. Don’t get married to the price and overlook your mistakes because of an inflated ego,» said Ethereum trader T3chman.
