Bitcoin and Ethereum are set to explode, according to Arthur Hayes. The co-founder of BitMex and CIO of Maelstrom family office recently shared his predictions for the future prices of these two cryptocurrencies. Hayes claimed that Bitcoin will reach $1 million, while Ethereum will surge to $100,000.
Hayes’ statements were met with skepticism, as he claimed that his ancestors on Rapa Nui (Easter Island) tipped him off about the bull market. However, it’s unclear whether Hayes truly believes in these price levels or if he was simply trolling his followers.
Despite the doubts, Hayes has frequently expressed his expectations of Bitcoin soaring to $1 million in the future. Recently, he shared an ETH/USD chart from BitMex, highlighting Ethereum’s rise above the $2,100 level.
Bitcoin itself experienced significant growth, briefly surpassing $37,000 and almost hitting $38,000. This price jump was attributed to Bloomberg analysts’ expectations of the SEC approving 12 Bitcoin spot ETFs, including those of BlackRock and Grayscale, within a “brief window” starting on Thursday.
Another Bloomberg analyst, James Seyffart, expressed a 90% probability of the first BTC ETF being approved by early January. Ethereum followed Bitcoin’s growth, reaching the $2,133 level. However, both cryptocurrencies have since lost momentum, with Bitcoin trading at $36,943 and Ethereum at $2,071.
About the author:
Yuri Molchan is a technology enthusiast who has been writing about blockchain and cryptocurrency since 2017. He believes that these technologies have the potential to transform various aspects of the world. Yuri’s articles have been quoted by influential figures in the crypto industry, including Tyler Winklevoss, John McAfee, CZ Binance, and Max Keiser.
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