Bitcoin (BTC) must climb above the $110,000 mark and even grow to the $150,000–$200,000 zone before any altcoins would see any major gains
Arthur Hayes, the co-founder of BitMEX, said that Bitcoin must rise above the $110,000 mark and even grow to the $150,000-$200,000 zone before any altcoins would see any major gains.
During a talk with Fortune Crypto, Hayes, who is known from Bitcoin’s early era, launched a well-known crypto exchange platform, BitMEX, in 2014 but later faced trouble with American authorities.
Hayes admitted to not having strong anti-money laundering steps, and because of that, he got probation and paid a penalty, and earlier this year, he received a full pardon from President Donald Trump.
According to him, Bitcoin must rise past its present rally of $110,000 with stronger trading activity and reach $150,000 to $200,000 for other altcoins to start gaining momentum. Unlike in 2021, when almost every token rose no matter the value behind it, this time only a few may benefit.
Hayes believes that a fresh story will guide where investors focus, though many older tokens might stay flat due to weak fundamentals like high valuation, small supply, no users, or real income. He also believed that before the end of President Trump’s term in 2028, the BTC price could rise to a high of $1 million.
However, he also warned that just because rules may favor crypto under Trump, it doesn’t guarantee every project will perform well.
For Hayes, a good investment must beat Bitcoin’s growth. He believes that Bitcoin’s dominance will keep growing, with altcoins seeing some action later, though not as wildly as during the last major boom.
As of the time of writing, the price of BTC is sitting at $102,952 and has had a 24-hour decrease of 0.9%, which is about 6% less than its highest level of $109,500 seen in January. On Sunday, Bitcoin reached $107,000 for a short time before dropping.
