Hayes Declares Ethereum Top Pick for Big Gains
Arthur Hayes, co-founder of BitMEX, has named Ethereum his top pick for big gains. He projects that ETH could rise between 3 and 5 times 'pretty fast'. At present, Ethereum is trading in the mid-$2,400 range, with an RSI standing at 76.3 - a level indicating overbought territory.
The $2,500 level acts as a key resistance point for Ethereum's current scenario. A breakout above this level could open the path toward higher prices, but failure to consolidate above it would reverse the setup and push ETH toward lower levels. Hayes' short-term rotation theory toward ETH is seen as a momentum bet within his macro vision that remains centered on Bitcoin.
Hayes did not abandon his stance on Bitcoin, projecting that BTC could reach approximately $1 million in four years, driven by an eventual massive monetary expansion. Bitcoin currently hovers around $78,500 and maintains a dominance of 59.79% in the market.