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Crypto

Hayes Sees Big Potential in Ethereum Amid Crypto Surge

Guavy AI Editorial Team
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BTC ETH
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Bitcoin's surge above $79,000 has been accompanied by a rise in Ethereum to over $2,400. Arthur Hayes, former CEO of BitMEX, says that excluding Bitcoin, his largest portfolio position is in Ethereum.

Hayes attributes Ethereum's lower risk of falling to zero compared to other cryptocurrencies as the reason for its attractive investment potential. He notes that despite being second by market capitalization, Ethereum has yet to surpass its 2021 peak.

Hayes believes that if Ethereum surpasses $3,000, its rise could accelerate and it may quickly climb above $5,000. He also states that Ethereum's weak performance in the recent bull cycle has left significant room for recovery.

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