Hayes Sticks to $5,000 ETH Target Despite 2021 All-Time High Miss

Arthur Hayes, former CEO of BitMEX and prominent cryptocurrency personality, has reiterated his year-end prediction for Ethereum's ETH. In a recent interview with Unchained, Hayes stated that ETH is still on track to close at $5,000 by the end of the year.

Hayes expressed confidence in his prediction, citing ETH's relatively stable price action compared to other altcoins. He noted that despite failing to retest its all-time high of $4,891 attained in 2021, ETH has a lot of catching up to do and is likely to experience significant price appreciation.

Hayes also mentioned that at Maelstrom, his family office and investment fund, ETH is their second-largest position after Bitcoin. He emphasized that from a risk-reward perspective, ETH presents an attractive opportunity for investors due to its relatively low market volatility.