eagerly awaited Ethereum Merge Speaking in a program he attended only two days before the update, BitMEX CEO Arthur Hayes also made an interesting claim that the update could not happen.
Speaking in a recent interview with the Bankless podcast, BitMEX CEO‘su shared his views on the matter, claiming that he and many others do not believe the Merger will happen:
“I don’t think people believe the merger will continue. I can’t sit here and tell you I thought they were going to 100% proof-of-stake… I’m not in a ditch like the developers have been since 2014.
If you’ve been around long enough, you’ve heard the talk about Proof-of-Stake for five, six, seven years… did that happen? No!”
Arthur HayesHe thinks that the best way to prove Ethereum’s upgrade is to demonstrate Proof of Stake (PoS) running in a real environment with decentralized applications (dApps) running on it.
“Show me proof-of-stake (PoS) and it works, with all dApps functionality like they did before,” he commented.
It is certainly true that Ethereum’s transition to proof-of-stake has been long overdue. However, Merge upgrade events continue as per the final timeline. Prior to the September 15 deadline, Ethereum developers announced that they had successfully completed the Merge upgrade on multiple testnets over the past few weeks.
Even Without Update, Ethereum Will Be $3000!
Koinfinans.com As we reported, Arthur Hayes has a very positive view of the ETH rally, although he is not very optimistic about the Ethereum Merge event. BitMEX CEO expects ETH to reach $3,000 regardless of whether the Merge is successful or not. Hayes said that he is not worried about the Fed’s action in the coming period due to inflationary pressure, and said:
“I believe there will be a price of $3,000 by the end of the year. I’m not worried about the Fed because even if the FED raises rates by 20%, there will be a certain amount of demand for $ETH to use dApps and the supply is not enough to meet it.”
Hayes may be highlighting ETH derivative trading over spot trading. However, he also points out that one should be good at timing when trading with leverage.
Hayes added that to be good as a trader, you need to be good at buying and spotting positions. “The main reason for 3AC’s decline was that they traded incorrectly, not sizing their positions correctly. I was wrong about many things, but I don’t have to be right about everything as long as I’m right about a few things!” added.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.