Arthur Hayes predicts that Bitcoin will reach $100,000 and Ethereum will touch $3,000 in the context of the global economy struggling to create enough credit to increase nominal GDP.
He emphasizes the market roadmap as the US will end tax imposition in Q3 and shares predictions at the WebX Asia seminar in Tokyo on August 25. His asset trading has also just been recorded with about $13.35 million worth of ETH, ENA, and PEPE sold.
MAIN CONTENT
Arthur Hayes expects Bitcoin to test $100,000, Ethereum to reach $3,000.
The US will end its tax imposition in Q3, affecting credit trends and GDP.
Hayes' personal trading of over $13 million in ETH, ENA, and PEPE in the last 6 hours.
What does Arthur Hayes think about the impact of the expiration of US taxes?
Arthur Hayes believes that the expiration of US tax laws in Q3 will pave the way for a more booming financial and cryptocurrency market.
He points out that after the non-farm payroll data was released, the market believes the tax imposition will no longer be prolonged. This allows the credit flow to recover, although he warns that no major economy can accelerate credit enough to boost nominal GDP quickly in the short term. Thus, this signal is seen as a basis for gaining momentum for prominent cryptocurrency values.
What are the predicted values for Bitcoin and Ethereum? Why?
Arthur Hayes predicts Bitcoin will challenge the $100,000 threshold, while Ethereum aims for the $3,000 mark.
Based on the constraints of credit and the sluggishness in major economies increasing GDP, Hayes predicts that money flow will concentrate on digital assets like Bitcoin and Ethereum to preserve value. In particular, the inability to quickly increase credit makes cryptocurrencies an attractive option with higher growth potential compared to traditional markets.
"No major economy can quickly create enough credit to drive nominal GDP up high. This supports Bitcoin reaching $100,000 and Ethereum $3,000."
Arthur Hayes, co-founder and former CEO, speaks at WebX Asia, August 2024
What cryptocurrency asset has Arthur Hayes recently traded?
In the past 6 hours, Arthur Hayes has sold approximately $13.35 million worth of ETH, ENA, and PEPE.
This divestment is seen as part of a personal risk management strategy, especially during volatile market phases. This transition reflects flexibility and timely updates to trends and current cryptocurrency market conditions.
What content will Arthur Hayes share at WebX Asia Tokyo?
He is expected to present in-depth analyses of economic impacts, credit, and the outlook for the global cryptocurrency market.
His topic at the event on August 25 promises to provide many new perspectives, helping investors and the cryptocurrency community better navigate effective investment strategies in a complex and volatile economic landscape.
Frequently Asked Questions
How does Arthur Hayes predict Bitcoin's price in the near future?
He predicts Bitcoin will challenge the $100,000 level based on macroeconomic factors and global credit constraints.
What influences Ethereum's price trend according to Arthur Hayes?
Ethereum's price is expected to reach $3,000 due to the slowdown in credit growth and the trend of investing in digital assets.
What major transaction has Arthur Hayes just made in the cryptocurrency market?
He sold approximately $13.35 million worth of ETH, ENA, and PEPE in the past 6 hours to manage personal risk.
What is WebX Asia Tokyo and why should we pay attention?
This is a large-scale cryptocurrency seminar in Tokyo where top experts share trends and new investment opportunities.
Will the expiration of taxes in the US have an immediate impact on the cryptocurrency market?
The expiration of taxes is seen as a positive signal, helping to improve sentiment and the flow of money into cryptocurrencies, but the impact may be gradual and requires further monitoring.
Source: https://tintucbitcoin.com/bitcoin-100-000-usd-ethereum-3-000-usd/
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