Arthur Hayes: Ether could reach $3,000 by the end of 2022

by in Cryptocurrency News

Hayes

According to the former head of the BitMEX cryptocurrency exchange, Arthur Hayes, by the end of 2022, ether (ETH) may reach $3,000.

In mid-August, the altcoin broke above $2,000, and many experts bet on its rise to $4,000 or even $5,000 by winter. However, soon the rollback resumed.

The pump came amid social media hype fueled by the upcoming Merge fork on the Ethereum network. It will take place on September 15th. At the end of August, ETH entered the bear zone, on the night of Friday, September 9, the cryptocurrency is trading at around $1672.

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Nevertheless, Arthur Hayes remains optimistic. He believes that Merge will be one of the main drivers that will accelerate the entry of Ethereum into a bullish phase.

A large-scale upgrade of the entire ETH ecosystem will lead to the fact that it will become less dependent on macroeconomic factors. By the end of 2022, the altcoin could reach $3,000 even if the Federal Reserve maintains a tight monetary policy.

Hayes admitted that he purchased Call options with an exercise price of $3,000 per ETH. This means that the former CEO of BitMEX does not rule out that the largest altcoin will trade above this level in December.