Year-End Ethereum Price Target Announced!

Bears aiming at $600 levels may be demoralized. Hayes outlined his reasons for the rise. Here is the price target.

The CEO, who spent a long time in the crypto money markets and whose views were followed by many investors, spoke. Bitmex CEO Arthur Hayes has revealed how many dollars he aims for the altcoin king by the end of 2022. Hayes, who had made many predictions in the past, was successful in some of them. So is his goal this time realistic? Here is the Ethereum target for the end of 2022.

Ethereum Will Rise

BitMEX CEO Arthur Hayes revealed in an interview with Bankless that he expects further bullishness in Ethereum. According to him, there is a stronger ETH upward momentum than the current macroeconomic developments. Hayes said that after the Merge event, ETH will generate less new supply. Indeed, with miners disabled, fewer rewards will be distributed and the price may enter the deflationary phase as Ethereum burns some of its transaction fees. At least that's the case on paper.

Year-End Ethereum Price Target Announced!

Hayes said:

I make money on my opinion on Ethereum because the structural flows are changing dramatically and that way I think the price is willing to go up enough to overcome the negative macro environment. I love investing with Ethereum.

Ethereum Price Target

The upcoming Ethereum merger is being called one of the most exciting crypto events of the year. On September 13 (or 15) Ethereum's current proof-of-stake consensus mechanism will be replaced by proof-of-stake. This will make the Ethereum network more sustainable and energy efficient for its future use.

After releasing the highly anticipated ETH merge distribution, ETH issuance will drop from 13,000 to 1,600. Thinking that the scarcity of ETH tokens after the merger will increase the price of Ethereum to $ 3,000, the CEO expects a roughly 100% rise. Hayes added that Ethereum is the core of all major DeFi hubs and activities and is still experiencing heavy usage even after a crypto price recession.

Hayes believes bullishness is inevitable for Ethereum;

Unless you tell me that DeFi usage is falling off the cliff with issuance, you're saying that demand is greater than supply, so I think the price has to go up.

Hayes has always been an active crypto advocate and has always been in the spotlight with his bold price predictions, especially for Ethereum. The name, who recently set a target of $ 10,000 for the price of ETH , wrote a lot of blogs about it.

Source: coin-turk.com