Arthur Hayes, the founder of BitMEX, appears to be even more optimistic towards 2026. Speaking as a guest on the Impact Theory program with Tom Bilyeu, Hayes stated that the price of Bitcoin could reach $750,000 to $1 million by 2026. He argues that the continuous printing of money by the US government to avoid a financial crisis will trigger a major bull market in many tokens. While many analysts have a positive long-term view, uncertainty continues due to various short-term challenges.
Bitcoin (BTC) Price Forecast!
Bitcoin found support at the 20-day exponential moving average at $27,227 after dropping below the level on October 11. This could indicate that bears are attempting to gain control. The next support to watch on the downside is the 50-day simple moving average at $26,615. A break below this level could indicate investors rushing for the exit. The BTC/USDT pair could then drop to $26,000 and eventually retest support at $24,800.
If the price of the cryptocurrency rebounds from the 50-day SMA, bulls may attempt to push the price above the 20-day EMA. This could open the doors for a potential rally towards $28,143. The flat 20-day EMA and the relative strength index (RSI) just below the midpoint could suggest possible range-bound action in the near term.
Ethereum (ETH) Price Analysis!
Ethereum has found buyers near the $1,531 support for the past two days, which could be a positive sign. This suggests that the price may continue to fluctuate between $1,531 and $1,746 for some time. The positive divergence in the ETH/USDT pair could indicate a decrease in selling pressure near $1,531. This could initiate a relief rally towards the 20-day EMA at $1,619. If the price of ETH falls from this level, bears may make another attempt to push the pair below $1,531 and start a downward move towards $1,368.
Contrarily, an increase above the moving averages could indicate a strong accumulation at lower levels. The pair could then attempt to rise towards $1,746. Bulls may struggle to surpass this level, but if they succeed, the pair could climb to $1,961.
