2 November 2024
Ethereum May Reach $10K By End Of 2022
The Former CEO of Bitmex, Arthur Hayes, talked about the potential of Ethereum registering $10,000 in value by the end of 2022. However, he reiterates that market could again face turbulence in the middle of the year.
He also discussed the downfall of Terra, which is the direct result of the increase in the rates of the Federal Reserve and the liquidity crises that pushed the stablecoin price to crash.
According to Hayes, after looking at ETH’s potential for the long-term, it could grow and shoot to $10,000 at the end of the year.
Though the market is unstable at the moment, Ethereum and the other Cryptocurrencies would revert into shape once the central bank also decelerates the rate increase process.
Earlier in April 2022, Hayes shared the reasons why 2022 is destined to be a spectacular year for Ethereum. He claims that once the blockchain transitions to a proof-of-stake (POS) system, it will now be commodity-based or a “currency bond” as opposed to BTC, which he says is “pure money.”
Hayes has a strong belief that ETH is a better investment than the BTC and other coins. He says, “ETH is a commodity used to power the computer, not a pure monetary instrument.” He also recommends people buy Ether and issue ETH bonds.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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