Ethereum is ready for big things (but it won’t reach $25k yet) — ex-BitMEX CEO shares his outlook

The great and terrible Arthur Hayes, the founder of several famous crypto exchanges, an investor and insider, published a new essay. As always, Arthur is quite verbose, which makes many of his fans not able to read his message even to the middle. But we did. And now we are retelling his main theses about the current situation in the crypto market (in our column To make a long Hayes short).

Another essay was published under the title Max Bidding, in which Arthur, as always, shared his thoughts about the world economy and the crypto industry. Below we present his main theses with our comments:

• When the world’s top central banks start printing money again, cryptocurrencies will go up more than other assets. And they will start printing again, as they are slowly driving themselves into a deadlock. Arthur asks for a little more patience before these clowns finally screw up and a celebration begins on Crypto Street.

If you don’t understand this logic, we suggest you read this important review article from Arthur. It’s a complicated text, yes, but it makes it clear why the future is in crypto.

• High-risk asset markets (including crypto) have most likely bottomed out. There is a gradual recovery ahead.

We are also keeping a close eye on the recovery, here is our latest analytics with a similar view.

• By the end of the year, Ethereum will make the most profits — the merger is not yet embedded in the price of ETH, soon it will have a powerful impact.

In our separate text, we looked in great detail at how you can be guaranteed to make money on forks — this is exactly what is ahead for Ethereum.

• Chinese miners are preparing their fork of Ethereum. Arthur draws attention to the intensive negotiations that precede it, which indicates a very serious level of preparation. At the moment, the following major exchanges are ready to list in future ETHPoW: Poloniex, Bitmex, Huobi.

Yes, we are also very closely following the Chinese project ETHPoW, which is going to reboot Ethereum — but in its own way, not Vitalik’s way. We’ve compiled all the information about ETHPoW right here. 

• Arthur gives his price prediction for ETH: depending on world financial situation and merger success/non-success, the nearest ETH price will be between $1099 (all sad) and $5000 (all great)

At this point, Arthur caused strong hate — as Cathy Wood predicts Ethereum at $25k, and $5k from Arthur does not look serious, but we think this prediction is more realistic.

• Ethereum is ready to power the “world financial computer”. Arthur believes that Ethereum will expand the scope of its practical application, it is not only a story about speculation (although it is about speculation, too).

This is exactly what Vitalik Buterin was talking about, in more detail in this review.

• Solana is a shitcoin.

Read this article of ours about Solana and you will understand why Arthur is so categorical.