Arthur Hayes Believes Ethereum Could Reach $31,000

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Arthur Hayes, co-founder of BitMEX, predicted in an article he published in early July that Bitcoin (BTC)’s price will skyrocket to $760,000.

He ascribed this rise to the incorporation of artificial intelligence-based projects into the BTC blockchain.

This integration, Hayes said, should cause a similar increase in the value of Ethereum (ETH), potentially attaining 1,556% growth to a price of $31,063.

Hayes also spoke positively of the growing DeFi decentralized finance industry, noting that most of its protocols are Ethereum-built and the increased userbase of its decentralized exchanges (DEX) will cause an upsurge in ether trades. Altogether, Hayes believes that ETH will continue to gain strength over the next five years.