Arthur Hayes, the co-founder and former CEO of BitMEX, predicts that Ethereum (ETH) could reach a six-figure price, while reiterating his bullish expectations for <a href="https://en.coin-turk.com/crypto-market-analysis-bitcoin-price-could-reach-28000-analyst-claims/”>Bitcoin (BTC). Here are Hayes’ forecasts for both ETH and BTC.
Arthur Hayes, one of the leading figures in the cryptocurrency world, stated on his personal X (formerly known as Twitter) account that it is time for the cryptocurrency market to rise. Hayes revealed that he has set a target for the largest altcoin and expects its price to reach 100 thousand dollars.
This target level corresponds to a 4,669% increase for Ethereum based on current prices. Furthermore, the former CEO of BitMEX reiterated his major prediction that Bitcoin will reach 1 million dollars.
In a previous blog post, Hayes stated that currencies are losing value worldwide and that investing in cryptocurrency would be the smartest move if this trend continues. The former CEO of BitMEX described Bitcoin and Ethereum as reserve assets of the crypto world and referred to everything else as worthless.
Hayes emphasized that besides Bitcoin and Ethereum, there are other opportunities in the cryptocurrency market that offer higher returns along with higher risks. He drew attention to Layer-1 and decentralized application altcoins and stated:
I would like to highlight other Layer-1 Blockchains that claim to be significant components of the Ethereum network. For example, Solana stands out in this regard. These projects were negatively affected during the bear market. Therefore, they can rise from extreme lows and provide significant returns for brave investors. However, all these projects are still overhyped shitcoins that cannot surpass Ethereum in terms of active developers, decentralized application (dApps) activity, and the total value of locked assets.
Finally, I believe that all kinds of dApps and related altcoins will rally. This is the most exciting part because it is possible to achieve a return of 10,000 times here. Of course, it also requires a much stronger position, but there is no return without risk.