[Arthur Hayes says Ethereum could rise more than 4,600%, sticks to $1 million forecast for Bitcoin]
BitMEX co-founder Arthur Hayes continues to be bullish on Bitcoin (BTC) and predicts that Ethereum (ETH) could reach astonishing six-digit prices.
Hayes believes that now is an excellent time to be bullish on cryptocurrencies, and he gave Ethereum a price target of $100,000, which represents approximately 4,669% growth from current levels.
Additionally, Hayes once again reiterated his prediction for Bitcoin to reach $1 million. In his latest blog post, he pointed out that in the face of global currency depreciation, the “smartest trade” would be to be “bullish on cryptocurrencies.” According to Hayes, Bitcoin and Ethereum are "reserve assets of cryptocurrencies", while other cryptocurrencies are mostly "junk coins" with no practical application value.
Hayes mentioned that in addition to Bitcoin and Ethereum, there are other potential high-return opportunities in the cryptocurrency industry, but the risks are also relatively high.
He gave an example: “For example, other layer-1 blockchains that claim to improve Ethereum such as Solana. These were hit hard in the bear market, so they will take off from extremely low base points and bring huge rewards to brave investors. rate. However, these projects still risk being over-hyped and will struggle to surpass Ethereum in terms of active developers, decentralized application (DApps) activity, or total value locked.”
He finally pointed out: "The prices of various DApps and their corresponding tokens will also rise. This is the most attractive industry, because here you may get a return rate of up to 10,000 times. Of course, the risk is also higher and you may face losses. But without risk, there is no high rate of return.”
