Arthur Hayes said in a recent video interview on the Altcoin Daily podcast that he remains aggressively bullish on Ether. He argued that in the current rebound in crypto market liquidity, ETH could outperform every other large-cap digital asset. Asked where ETH might trade if Bitcoin reaches $200,000 within the next five years, Hayes said he does not know what the exchange rate would be, but suggested ETH could be at $20,000, $25,000, or even $30,000. Hayes also pointed to Bitcoin’s current market share at about 60%, compared with roughly 25% to 26% during the 2020 to 2021 DeFi summer. He said he does not expect BTC dominance to fall that low again, but sees a move to 40% as possible, with ETH driving most of that shift because of its scale relative to other crypto assets.
Arthur Hayes said in a recent video interview on the Altcoin Daily podcast that he is still aggressively bullish on ETH.
Hayes said that in the current rebound in crypto market liquidity, ETH would outperform all other large-cap crypto assets.
Hayes on where ETH could trade if BTC reaches $200,000
When the host asked where ETH might be if BTC rises to $200,000 within the next five years, Hayes said he did not know what the exchange rate would be. He added that ETH could be at $20,000, $25,000, or even $30,000.
His view on Bitcoin market share
Hayes said BTC’s market share is currently around 60%. He contrasted that with the 2020 to 2021 DeFi summer, when it fell to around 25% to 26%.
He said he does not think Bitcoin’s market share will drop that low again, but a decline to 40% is possible. In his view, ETH would drive most of that move.
Hayes said the reason is that ETH is the largest asset by scale after BTC, and no other asset can rise enough and fast enough to materially reduce Bitcoin’s dominance.
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