Prediction: “Bitcoin could reach $1 million and Ethereum could reach $100,000”

The market has once again entered a phase in which analysts are predicting high and round figures. Now it’s the turn of BitMex’s Arthur Hayes. He says Bitcoin could rise to $1 million and Ethereum to $100,000. As rapper Sjors would say: Let’s go!

Now is the time!

Hayes argues that now is the time to become optimistic about cryptocurrencies. He announces a $100,000 target for Ethereum, an increase of approximately 4,669% from current levels. The founder of BitMEX repeated also his prediction that Bitcoin will reach 1 million.

At the time of writing, Bitcoin is at $37,000 and Ethereum is at $2,061.

In a new blog post, Hayes goes on to say that given the depreciation of national currencies around the world, betting on cryptocurrencies is the smartest trade. According to him, the cryptocurrencies Bitcoin and Ethereum are reserve assets, while everything else is junk currency.

Other currencies are trash

In addition to Bitcoin and Ethereum, Hayes says there are other options in the crypto space that offer the potential for higher returns with greater risk.

“Then we get to other Layer 1 blockchains that are supposedly an improvement over Ethereum.” Solana is an example. All of these blockchains were hit hard during the bear market. As such, they will bounce back from extreme lows and deliver big returns for daring investors. But they are still overhyped products, pieces of junk that won’t surpass Ethereum in terms of active developers, decentralized application (DApp) activity, or total value locked.”

He also says that returns come with risks: “Eventually, all types of DApps and their respective tokens will boom. This is the most fun because you can get 10,000x returns here. “Of course the risk of being financed is greater, but where there is no risk, there is also no return.”