Irish Journalist: Bitcoin and Ethereum Surge as Bull Market Begins
In a recent development, former BitMex CEO, Arthur Hayes, allegedly stated that the time is now for Bitcoin and Ethereum as the bull market kicks off. While it remains unclear whether Hayes genuinely believes in these price predictions or if he was simply trolling his followers, he boldly claimed that Bitcoin will reach $1 million and Ethereum will surge to hit $100,000. Hayes has been known to frequently share his expectations for the future of cryptocurrencies.
Just today, Hayes shared an ETH/USD chart from BitMex, highlighting the significant rise of the second-largest cryptocurrency. Ethereum briefly soared above the $2,100 level, capturing the attention of many investors. This staggering growth of 5.69% in less than a day, adding $2,000 to the price, was attributed to Bloomberg analysts’ expectations regarding the U.S. regulator, the SEC.
According to Bloomberg analysts, the SEC may have a “brief window” to approve 12 Bitcoin spot ETFs, including those of BlackRock and Grayscale, for a period of 12 days starting on Thursday. James Seyffart, another Bloomberg analyst, expressed his belief that the first BTC ETF could be approved by early January, giving it a 90% probability of happening.
Following Bitcoin’s growth, Ethereum also experienced a surge, reaching the $2,133 level. However, both leading cryptocurrencies have since lost momentum. Bitcoin is currently trading at $36,943, while Ethereum is exchanging hands at $2,071.
It is important to note that this article was originally published on U.Today, a renowned platform for cryptocurrency news and analysis.