Arthur Hayes, the founder of BitMEX, has some exciting predictions for Bitcoin (BTC) and Dogecoin (DOGE).
In a recent chat on the Alpha Only podcast, Hayes shared his thoughts on how traditional finance, or TradFi, could shake up the crypto market. He believes that as TradFi firms see crypto prices rise, they will start investing in major projects. But here’s the catch: as the market heats up, some projects may become overvalued. This could lead investors to chase after less credible options, creating big gaps between prices and actual value.
He explained it this way: “At first, credit gets allocated wisely, with good uses. But as the rally goes on, people start putting money into poor projects just to make a return. That’s when you see too much capital flowing into risky areas, often based on business models that rely on prices always going up. That’s where things can get messy.”
Hayes isn’t sure where this might happen, but he thinks we’re not there yet. He pointed out that we haven’t seen a sector so hot that TradFi is pouring in huge amounts of debt capital. He stressed the importance of being cautious about what could happen if prices don’t match reality.
Looking ahead, Hayes believes Bitcoin could hit some impressive numbers. “I think we’ll see Bitcoin at $100,000 by the end of this year and possibly $250,000 by the end of 2025,” he said.
As for Dogecoin, he’s optimistic too. He thinks it could definitely reach $1. Overall, he has a positive outlook on memes and memecoins in the current market.