Simply put
- Ethereum reached a new all-time high on Friday, but Arthur Hayes believes its value could rise significantly higher.
- The Bitmex founder has upped his price estimate from $10,000 to $20,000 for this cycle.
- This optimistic prediction is underpinned by his expectations of substantial quantitative easing from the Trump administration.
Ethereum’s recent price surge has grabbed attention, especially from some prominent voices in the cryptocurrency world.
Arthur Hayes, the founder of Bitmex, has once again adjusted his price targets for Ethereum, suggesting it could climb to between $10,000 and $20,000 by the end of this cycle.
Hayes laid out his forecast, anticipating significant money printing when President Donald Trump takes office. He discussed this during a podcast led by Crypto Personality, just ahead of a key speech by Federal Reserve Chair Jerome Powell.
“I think ETH will go [to] $10,000 or $20,000 before the end of the cycle,” he remarked about price projections. He noted that if assets break through their previous highs, fundraising becomes much easier.
Ethereum’s price jumped upward again on Friday, challenging its prior record of $4,789, thanks in part to Powell’s dovish remarks indicating possible interest rate cuts.
This latest growth is partly attributed to mentions by Hayes regarding the Digital Assets Ministry of Treasury, particularly organizations like Bitmine Immersion Technology and Sharplink Games, which together hold over $10 billion in ETH. The Ethereum ETF has also seen significant growth, capturing more than 5% of the total ETH supply.
Hayes has maintained a bullish outlook on Ethereum for the last few months. He initially predicted ETH could rise to between $4,000 and $5,000 this year and then increased his forecast to suggest it could reach $10,000, asserting that it is one of the most undervalued assets currently available.
Now, his sights are set even higher—suggesting Ethereum could hit $20,000 by the end of the current cycle, largely due to expectations surrounding money printing by the Trump administration.
Hayes foresees that this administration will engage in significant quantitative easing, creating new capital for purchasing financial assets.
Previously, he had expressed confidence that increased money supply would drive market growth, including his prediction for Bitcoin to reach $250,000 by year-end.
Hayes, despite current legal challenges, remains optimistic about Ethereum and has accumulated a considerable amount, valued around $8.6 million, as seen in tracking data from Arkham Intelligence. His wallets reportedly contain over $50 million in ETH, highlighting his continued commitment to the asset.
