Former CEO of Bitmex believes Ethereum might hit $10,000 by the end of 2022
The former CEO of Bitmex, Arthur Hayes, predicted that Ethereum will be worth $10,000 by the end of 2022. There may be turbulence in the middle of this year, but he insists.
Hayes also discussed Terra’s demise, which he believes was caused by the Federal Reserve’s rate hikes and the ensuing liquidity crisis, which in turn caused the stablecoin price to plummet.
Once the long-term potential of ETH is considered, Hayes is convinced that the cryptocurrency will increase tremendously and reach a price of $10,000 by year’s end.
The market may be chaotic at the present, but if the central bank also slows down the rate rise process, ETH and the rest of the cryptocurrencies will come back into form.
Due to Terra’s own programming, the planet’s demise is inevitable. When it comes to dealing with liquidity issues, the Federal Reserve is just addressing a small portion of what is going on. I’d got it all in the bag.
Although the cryptocurrency market is volatile, Hayes predicts that ETH will hit $10,000 by the end of 2022 if the positive trend continues.
In April, Hayes explained why Ethereum would have a wonderful year in 2022. A “currency bond” or “commodity-based” blockchain would emerge when the system converts to Proof of Stake (POS), he claims, rather than BTC, which he claims is “pure money.”
ETH is also a superior investment to Bitcoin and other currencies, he claims. The summer of 2022 will be the turning moment in Ethereum’s rise to the top of the cryptocurrency market.