Solana Rally Changes Arthur Hayes’ Mind
SOL’s recent bullish price action is even more impressive when considering higher timeframes. At the end of 2022, due to the collapse of its most prominent supporter crypto exchange, FTX, the cryptocurrency lost almost all its yearly profits.Fam I have something embarrassing I must admit. I just bot $SOL, I know its a Sam-coin piece of dogshit L1 that at this point is just a meme. But it is going up, and I’m a degen. Let’s Fucking Go!
Arthur Hayes Expects Further Gains
The former BitMEX CEO has publicly expressed his position regarding Bitcoin’s potential to reach new all-time highs. A rally in the number one cryptocurrency would inevitably spill over to Solana.As NewsBTC reported, in a detailed analysis, Hayes highlighted the intricate connection between global financial trends and Bitcoin’s future, emphasizing the influence of government policies and financial disturbances on investment strategies.
The former BitMEX CEO anticipates a period of market turbulence, with Bitcoin’s value chopping around $25,000 to $30,000, driven by negative real rates and a shift towards diversified investment portfolios. This, he believes, will particularly favor cryptocurrencies, such as Solana. Looking ahead, Hayes projects a bullish trend for Bitcoin, estimating its value could reach approximately $70,000 by the end of 2024, influenced by the Bitcoin Halving event and potential Exchange Traded Fund (ETF) launches. His long-term vision extends even further, predicting an extraordinary financial boom across various markets, potentially driving Bitcoin’s value between $750,000 and $1,000,000 by 2026.