Arthur Hayes, the founder of the cryptocurrency exchange BitMEX, is making some bold predictions about the future of Bitcoin (BTC), Dogecoin (DOGE), and the crypto market as a whole. He recently shared his outlook on the Alpha Only podcast.
TradFi’s Impact on Crypto
Hayes believes that traditional finance (TradFi) firms will play a major role in the next crypto market cycle. He expects TradFi investment to initially boost crypto prices, but warns that this could lead to problems down the line. As the market heats up, he thinks these firms will start pouring money into riskier, less legitimate projects just to chase returns. This could create a huge disconnect between asset prices and their actual value. He emphasized the risk of a market crash if prices don’t reflect reality.
Bitcoin and Dogecoin Price Targets
Despite this warning, Hayes remains bullish. He predicts Bitcoin will hit $100,000 by the end of 2024 and a whopping $250,000 by the end of 2025. He’s also confident that Dogecoin could reach $1. He generally expressed optimism about memecoins as well.
Disclaimer
It’s important to remember that these are just predictions. Investing in cryptocurrencies is inherently risky, and you should always do your own research before investing any money.
