BitMEX co-founder Arthur Hayes previously sold off heavily due to his bearish view that 'Ethereum would fall to $3,000', but unexpectedly, within just a few days, the price surged over 20%, forcing him to quickly buy back. Now he even predicts that Ethereum could reach between $10,000 and $20,000 in this bull market.
Looking back to early August this year, Arthur Hayes decisively sold off over $8 million worth of cryptocurrencies, including Ethereum, PEPE, and ENA. At that time, he judged that the market might face a correction due to the tariffs imposed by U.S. President Donald Trump and global geopolitical risks, predicting that Ethereum would fall from $3,500 to $3,000.
However, the market did not follow Arthur Hayes's script; instead of falling, Ethereum rose, soaring over 20% in just a week and breaking through the $4,000 mark. Realizing the trend was slipping from his control, he quickly bought back over 1,700 Ethereum, worth more than $8 million.
Arthur Hayes just admitted he bought back ETH because 'the chart says it’s going higher.'
He sees Ethereum running up to $20K this cycle.
When asked $ETH vs $SOL?
He’s overweight $ETH pic.twitter.com/Yd3q1t0aCe
— SamAlτcoin.eth (@SamAltcoin_eth) August 21, 2025
This seasoned trader, known for his sharp judgments, became the target of the market 'slapping back'. Arthur Hayes bluntly stated:
I bought back some of the Ethereum I sold previously. The technical trend shows it will continue to rise. I can’t go against the market.
I believe Ethereum can surge to between $10,000 and $20,000 before this bull market ends.
Arthur Hayes recently pointed out in an interview that once Ethereum effectively breaks through its historical high (set in 2021 at $4,878), the path above is almost 'smooth sailing, soaring to the sky'.
He also noted that native cryptocurrency companies are actively raising funds to buy Ethereum, and when the market sentiment is ignited, the influx of capital will be even more intense.
Arthur Hayes added that the political and economic landscape will also play a role. If Trump supports certain financial assets during his presidency, these assets are likely to experience a strong bull market from now until the end of his term.
When discussing the heated debate in the market about 'Ethereum vs Solana', Arthur Hayes stated that he believes 'both will rise', 'the question is, which one will rise more', but if he had to choose one, he would unhesitatingly side with Ethereum.
According to CoinGecko data, the current trading price of Ethereum is $4,219, with a daily drop of 1.1% and a weekly drop of 9.2%, but it has still risen over 15% in the past month, 13.7% away from its historical high.
In contrast, Solana (SOL) has dropped 3.6% in the past 24 hours, with a weekly drop of 8.8%, currently priced at about $177.82, down over 39% from this year's high of $293.
"After being slapped by the market, turning bullish! Arthur Hayes: Ethereum could reach $20,000 in this bull market" this article was first published on (Blockcast).
