On June 4, Former Bitmex CEO Arthur Hayes highlighted the potential of Ethereum to reach $10,000 in value by the end of 2022. However, he reiterates that the market might be volatile, particularly in the middle of the year.
Furthermore, Hayes revealed his thoughts on Terra’s collapse, which is a direct outcome of the Federal Reserve’s rate hikes and liquidity difficulties, which caused the stablecoin price to drop.
On a broader scale, Hayes believes that ETH’s long-term potential will allow it to rapidly increase and reach $10,000 before the end of the year.
The market may be volatile right now, but ETH and the rest of the cryptocurrencies will return to form once the central bank slows the rate hike process.
Terra’s downfall was doomed from the start due to its own programming. The Fed’s initiatives on global central banks’ tightening on liquidity difficulties are just the tip of the iceberg. Everything was in order.
Hayes just said in April why 2022 would be a wonderful year for Ethereum. He claims that as the blockchain moves to a proof-of-stake (POS) system, it will become commodity-based, or a “currency bond,” rather than “pure money.”
He also claims that ETH is a superior investment to BTC and other currencies. The changeover, which is scheduled to take place in the summer of 2022, will be the tipping moment that will propel Ethereum ahead of the competition.
Hayes is certain that ETH is preferable to BTC because “ETH is a commodity needed to fuel the computer, not a pure monetary instrument.”
Hedging your ETH/USD or local currency would result in revenue or a premium of +6.90%. Michael Saylor, a significant Bitcoin investor, offers a corporate bond in exchange for Bitcoin.
Hayes advises people to acquire Ether and issue ETH bonds. The rationale is that everybody who buys ETH is instantly classified as a DeFi or Metaverse firm, which raises the stock price.
