- Arthur Hayes, co-founder of BitMex, predicted Bitcoin will reach $1 million and Ethereum $100k based on messages from his ancestors in Easter Island about a crypto bull market
- Bitcoin recently surged to nearly $38k and Ethereum hit $2,133 due to expected SEC approval of Bitcoin ETFs, showing bullish momentum
- Though Hayes’ specific targets are speculative, overall investor optimism is rising as crypto market fundamentals improve with more regulatory clarity
Arthur Hayes, the co-founder of crypto exchange BitMex, made some bold predictions during a recent trip to Easter Island. Hayes stated that Bitcoin will reach $1 million and Ethereum will hit $100k in the future. Let’s examine his predictions and the recent price action of Bitcoin and Ethereum.
Hayes’ Easter Island Revelations
- Hayes claims ancestors in Easter Island told him the bull market is here
- He believes their message indicates Bitcoin will reach $1 million
- Ethereum is also set to surge to $100k, according to Hayes
- Hayes has frequently predicted Bitcoin hitting $1 million
Examining the BTC and ETH Price Jumps
- Bitcoin briefly surpassed $37k on November 9, nearing $38k
- The massive 5.69% daily gain was attributed to expected SEC approval of Bitcoin ETFs
- Ethereum followed suit, soaring to $2,133
- Both cryptos have since pulled back – Bitcoin trades at $36,943, Ethereum at $2,071
The Takeaway
While Hayes’ specific targets may seem lofty, the recent bounce in Bitcoin and Ethereum prices shows the bulls are gaining strength. More regulatory clarity and approval of crypto ETFs could propel BTC and ETH even higher. Though predicting such large long-term gains involves significant speculation, the crypto market’s fundamentals appear to be improving. Hayes’ bold predictions reflect overall investor optimism towards the future of Bitcoin and Ethereum.
