Original title: Why Arthur Hayes Expects Ethereum to Surge to $20,000
Original author: Logan Hitchcock
Original source: https://decrypt.co/
Compiled by Daisy, Mars Finance
Ethereum just hit a record high on Friday, but BitMEX founder Arthur Hayes believes ETH still has huge room for growth. The following is a detailed analysis.
Key Points
Ethereum hit a new high on Friday, but Arthur Hayes believes the rally is far from over
The BitMEX founder raised his price prediction for this cycle to $10,000-20,000
The forecast is based on its prediction that the Trump administration will implement significant quantitative easing policies
Despite hitting a new all-time high on Friday, Ethereum may still be in the early stages of its rally—at least that’s what one of the cryptocurrency industry’s most outspoken supporters believes. BitMEX founder Arthur Hayes has again raised his price target for Ethereum, predicting the second-largest crypto asset could soar to between $10,000 and $20,000 by the end of this cycle.
Hayes laid out his predictions, centered on the expectation of massive money printing during the Trump administration, on this week's Crypto Banter podcast, hosted by cryptocurrency luminary Ran Neuner, ahead of Federal Reserve Chairman Jerome Powell's Jackson Hole speech on Friday.
"I think ETH will reach $10,000 or $20,000 before the end of this cycle," Hayes said when asked about his price prediction. "Once it breaks through the historical high, there will be a vacuum upward range above, and many digital asset reserve companies are raising funds. If the assets they purchase break through the historical high and continue to climb, financing will be smoother."
Ethereum saw another strong rally on Friday, challenging its all-time high after Powell's dovish stance signaled a rate cut. The price of ETH jumped to a new high of $4,789 that day, slightly surpassing its 2021 record.
The recent surge is partially due to the digital asset reserve institutions Hayes mentioned—particularly the two largest ETH reserves, BitMine Immersion Technologies and SharpLink Gaming, which together hold over $10 billion worth of ETH. Ethereum ETFs have also fueled the rally, with record inflows in July and now holding over 5% of the network's total ETH supply.
Hayes has been bullish on Ethereum (ETH) in recent months, predicting to Decrypt in May that the second-largest cryptocurrency would reach $4,000-5,000 by the end of the year. In July, he further raised his predictions, saying ETH would "rip the market to new highs," reiterating its status as one of the "most undervalued assets."
Now, he predicts that Ethereum could soar to $20,000 before the end of this bull market, partly due to the massive money printing policies that the Trump administration is likely to implement. In other words, Hayes expects the new administration to implement significant quantitative easing, a monetary policy that creates new money to purchase financial assets.
"From mid-2026 until Trump leaves office, they're going to print money like crazy," Hayes told Nohner. "My baseline is that between now and the end of the Trump administration, there's going to be a massive bull market in all the financial assets related to the sectors Trump prioritizes."
Hayes previously predicted Bitcoin would reach $250,000 by the end of the year, based on expectations of accelerated money printing and an increase in the money supply. Arkham Intelligence wallet tracking data shows that the now-pardoned BitMEX founder has a deep vested interest in ETH, having increased his holdings by approximately 1,800 ETH (worth over $8.6 million) since August 10th. Wallets under his name currently hold over $50 million worth of ETH and staked ETH equivalents.
