Arthur Heyes Has A Huge Target For Ethereum By End Of Year 2022
Arthur Hayes, the former Chief Executive Officer of BitMEX crypto exchange predicts a massive rally for Ethereum (ETH) closer to the year end of 2022.
Hayes wrote in a blog post that his earlier prediction that Ethereum will hit $10,000 by the end of this year even if he’s slightly less confident on when exactly ETH will reach the target.
His prediction is based that the U.S. Federal Reserve will eventually deliver on its agenda of trying to curb inflation through the tightening of central bank liquidity.
Hayes believes that baby boomers, the largest voting block in the United States, will become increasingly dissatisfied with the U.S. central bank’s monetary policy coming closer to the midterm elections in November of this year.
According to him political pressure from the baby boomers could force the Fed to shift its stance and lead into another bull run in volatile assets like crypto.
“The baby boomers are the largest and wealthiest generation, as well as the most important voting block. They own a large percentage of global financial assets and are now embarking on retirement, which means subsisting on a fixed income. Poorly-performing financial assets and rising fuel and food inflation are the two worst things a financial asset-heavy retiree can experience. The boomers will rage against the machine and set us free from the cage of tight central bank liquidity.”
The Ex-CEO of BitMEX believes that the Fed will likely signal to investors that a low-interest-rate environment is returning.
“The Fed will not be coy about its about-face. The pivot will be clearly telegraphed, and those waiting for a signal that it’s on like Donkey Kong will receive it. For patient traders whose time frame spans many years, it pays to wait.
You don’t want to sell filthy fiat and buy Bitcoin / Ether early only to get shook due to a lack of confidence in your investment thesis. It is better to wait for the all-clear signal from the high clergy of the devil that it is time to join the crusade.”
