Founder and former CEO of BitMEX Arthur HayesWith the completion of Ethereum’s (ETH) Merge update, ETH is expecting a massive spike in price.
Hayes, in a new article he published on his blog, despite the macroeconomic conditions and the decreasing liquidity of the US dollar, Ethereum He said he expected the price to rise.
According to Hayes, the Fed Bitcoin (BTC) As long as the Dollar Liquidity Index, which tends to show an inverse correlation with
“Under conditions where the money supply has a greater impact on financial markets than price, the Fed can raise interest rates as much as it wants without damaging the market.”
In addition, the crypto phenomenon states that tough macroeconomic conditions have not shaken his faith in leading smart contract platforms, but that price increases may occur less than expected.
“With Bitcoin falling, most cryptocurrencies cannot outperform the market in USD terms in absolute terms. However, my confidence in Ethereum’s positive short-term price performance rests on the upcoming Merge update.”
Hayes believes that the Merge update will create a positive move for Ethereum regardless of USD liquidity conditions.
“I hope Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) network will push the price of Ethereum up despite macroeconomic conditions.”
Hayes stated that with this update, he predicts that the Ethereum price will be $ 5000 until the first quarter of 2023, that is, in the next 4 – 8 months.
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