Hayes Picks Ethereum for Quick Gains as BitMEX Prepares to Close

Arthur Hayes, co-founder of BitMEX, believes Bitcoin (BTC) will reach $1 million by 2030. However, he thinks Ethereum (ETH) is his top pick for quick returns due to its potential to rise 3x to 5x quickly.

Hayes pointed out that Ethereum remains heavily beaten down and is the only major crypto asset still trading below its 2021 peak. He also noted that Bitcoin's price floor is likely around $58,000, which was reached before the market began moving higher.

On the other hand, Markus Thielen from 10x Research disagrees with Hayes' long-term timeline for Bitcoin, calling it 'mathematically impossible.' Thielen argues that attracting trillions of dollars in fresh funds over four years is far beyond what entered the market over the past 15 years.