Arthur Hayes reiterated his bullish view on Ether in a recent video interview with the Altcoin Daily podcast, saying ETH is likely to outperform every other large-cap crypto asset during the current liquidity-driven rebound in the market. Hayes framed Ether as the main asset capable of gaining enough ground to materially reduce Bitcoin’s market dominance.
When asked where ETH could 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 Ether could land at $20,000, $25,000, or even $30,000. He also pointed to Bitcoin dominance, which he said is currently around 60%, compared with roughly 25% to 26% during the 2020 to 2021 DeFi summer.
Hayes said he does not expect Bitcoin’s share of the market to fall back to those earlier lows, though he sees a drop to 40% as possible. In his view, ETH would drive most of that shift because of its scale, arguing that no other crypto asset is large enough to rise fast and far enough to significantly erode Bitcoin’s dominance.
Arthur Hayes repeated his aggressive bullish call on Ether in a recent video interview with the Altcoin Daily podcast, saying ETH will outperform every other large-cap crypto asset in the current liquidity rebound across the crypto market.
Hayes said, 「In this round of liquidity-driven recovery in the crypto market, it will outperform all other large-cap crypto assets.」
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 added that Ether could be at 「$20,000, $25,000, or even $30,000.」
He also said Bitcoin’s market share is currently around 60%. During the 2020 to 2021 DeFi summer, he said, that figure fell to roughly 25% to 26%.
Hayes said he does not think Bitcoin dominance will fall that low again, but a decline to 40% is possible. He added that most of that move would be driven by ETH, because it is the largest asset capable of rising enough to materially cut into Bitcoin’s dominance.
In Hayes’ words, no other asset can climb far enough and fast enough to substantially weaken BTC’s hold over the market.
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