Ether Expected to Outperform Large-Cap Cryptos, Potentially Reaching $30,000
Arthur Hayes, co-founder of BitMEX, believes Ether will outperform other large-cap cryptocurrencies in the current rebound. In an interview on the Altcoin Daily podcast, he stated that Ether could rise to $20,000, $25,000, or even $30,000 if Bitcoin climbs to $200,000 within the next five years.
Hayes also mentioned that Bitcoin's market share may shrink. He thinks that Bitcoin dominance, currently around 60%, could fall to 40%. This would be a significant decrease from the current level, but Hayes notes that it may not drop as low as it did during the 2020-2021 DeFi bull market, when Bitcoin dominance fell to 25% to 26%.
Hayes attributes the potential decline in Bitcoin's market share to Ether's growth. As the largest asset after Bitcoin, Ether could climb faster and by a wider margin than any other asset, effectively lowering Bitcoin's market dominance.