BitMEX co-founder Arthur Hayes has expressed optimism about Ethereum’s price trajectory, predicting that the world’s second-largest crypto would hit $20,000.
In a recent interview, Hayes said that he has bought back some of the ETH sold. “The chart says it’s going higher, so you can’t fight the market.”
“I think ETH goes $10,000 to $20,000 before the end of the cycle,” he said. “Once it’s broken through, then you know there’s a gap of air to the upside.”
Comparing between ETH and Solana (SOL), he currently overweights on ETH, indicating a strong preference for Ethereum in his current investment strategy.
“My base case is we are going to have a massive bull market and all types of financial assets connected to anything that President Trump believes is important now.”
Last week, Hayes bought $8.4 million in ETH, accumulating 1,500 ETH, alongside substantial positions in blue-chip DeFi tokens, including LDO, ETHFI, and PENDLE.
Ethereum Would Outperform Solana in Bull Run: Arthur Hayes
When asked about Hayes’s preference between the rise in Solana and Ethereum prices now and the end of the cycle, he said both assets would show a bullish trajectory.
“They are both going to go up, but the question is which asset could go up more,” he noted.
He said that Solana would probably not surpass Ethereum in the bull run, but said that it would be a “bigger asset move.”
Is ETH Breakout Imminent?
Ethereum fell 0.64% in the past 24 hours to $4,289, per CoinMarketCap data. The token has slightly bounced back and is seen trading at $4,306 at press time.
However, the significant demand for a spot ETH ETF, along with massive institutional inflows, including companies like Bitmine and Sharplink Gaming acquiring over 2 million ETH since June, has contributed to the recent surge in ETH prices.
The crypto has surged over 15% over the last 30 days, hitting a local high of $4,700 last week and inching closer to an all-time high.
The crypto billionaire’s $20k call isn’t wild if macro and ETF demand align. For now, the crypto community is keeping a close eye on Hayes’ wallet activity, particularly as more capital flows into mid-cap Ethereum ecosystem tokens.
The post BitMEX’s Arthur Hayes Buys Back ETH, Predicts Ether Could Hit $20K appeared first on Cryptonews.
