August 6, 2022

Arthur Hayes predicts ETH could hit $5,000 if this criteria is met.

Former BitMEX CEO Arthur Hayes thinks ETH could reach $5,000 by the end of Q1 2023.

In a recent blog post, Hayes explained why Ethereum will likely yield a greater return than Bitcoin throughout the rest of this year.

The two criteria Hayes cited are that the Federal Reserve will ‘pivot,’ and that the Merge upgrade will be successful.

Fed pivoting would likely have a bullish effect on all asset prices, the Merge represents an Ethereum-specific event that, in his view, “will have an incredibly powerful impact on the price of ETH.”

Ethereum Merge is the transition of the network from Proof of Work to Proof of Stake.

The main reason behind the merge is to increase the network’s efficiency and scalability.

Hayes believes the upgrade itself will “drive the price of Ether up exponentially.