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The founder of Bitmax offers an analysis of the million dollar Bitcoin. He also says that Ethereum can reach $100,000. In this post from “Pooyan Music“, we examine Hayes’ analysis about this.
Arthur Hayes predicted that Ethereum could rise by more than 4,600%. to finally reach one hundred thousand dollars. Hayes reiterated his belief that Bitcoin will reach $1 million in the future.
Arthur Hayes, cryptocurrency expert and co-founder of BitMEX, has increased his bullish stance on Bitcoin. He also predicts a tremendous rally in Ethereum.
In a post on X on Friday, Hayes said he envisions a future where Ethereum reaches six figures. According to him, the value of Ethereum can increase by approximately 4669% to reach the $100,000 mark. He also maintained his earlier prediction of Bitcoin reaching the $1 million milestone.
In his latest blog post on Thursday, Hayes also stressed that investing in cryptocurrencies, particularly Bitcoin and Ethereum, is the most prudent move in the face of global currency devaluation. He dismisses other digital currencies as less important.
Hayes also acknowledged the potential of layer one blockchains like Solana. Despite their high risk, these alternatives can offer significant returns. Especially after suffering significant losses in a bear market.
Then, we come to other layer 1 blockchains that claim to be improvements on Ethereum. Solana is an example. All of these were hit hard in the bear market. As such, they break out of their lows and provide excellent returns for intrepid investors.
“However, all of them are still oversold, in terms of active developers, but the activity of decentralized applications (DApps) or their total locked value does not surpass Ethereum,” he added.
However, Hayes said he is skeptical about their ability to surpass Ethereum in critical aspects such as developer engagement and decentralized application activities.
At the time of writing, Bitcoin was trading at $37,112.53, up seven percent over the past seven days. Ethereum is trading at $2,058.51, up 12% over the past seven days.
