Hayes: $110K Bitcoin Key to Alt Season
Bitcoin Needs $110K Breakthrough for Alt Season, Says Hayes
BitMEX co-founder Arthur Hayes recently stated that Bitcoin needs to surpass $110,000 and rally towards $150,000–$200,000, with increasing trading volume, to kickstart the next altcoin season. This prediction was shared during an interview with Fortune Crypto.
Key Takeaways:
- Altcoin season anticipated after Bitcoin surpasses $110,000.
- Hayes projects Bitcoin reaching $1 million by 2028.
Hayes believes this altcoin rally, predicted to begin in the summer or early Q3, will differ from the explosive 2021 surge. Unlike the previous cycle, where almost every token thrived regardless of its fundamentals, this upcoming alt season is expected to be more selective. He anticipates a new narrative will drive investor interest and speculation in specific assets, warning that many underperforming coins might struggle to recover.
“A lot of those coins have high FDV, low float, no customers, no revenue, just some CEX listings, that went down 95%, I don’t really see why those should do well in the next cycle,” he added.
Hayes, who now manages the Maelstrom fund following a pardon from President Trump, forecasts Bitcoin reaching $200,000 in its next surge and $250,000 by year-end. His long-term prediction is even more ambitious: $1 million by 2028, coinciding with the end of a potential Trump presidency.
Bitcoin recently closed its highest weekly period above $106,000 on May 18th, marking a six-week winning streak. This rally is fueled by consistent inflows into spot Bitcoin ETFs and steady corporate demand. Although Bitcoin briefly touched $107,000 before retracting, it currently trades near its all-time high set in January.
Hayes also discussed his significant holdings in gold (20% of his portfolio), including physical gold and gold mining equities, which he considers undervalued despite recent price increases.
Finally, comparing Ethereum and Solana, Hayes expressed his preference for Ethereum, citing its robust fundamentals and strong ecosystem as significant advantages in the next bull run, despite current challenges and criticisms.
“I think that Ethereum could outperform Solana in this next sort of 18–24 months bull run,” he said.
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