Ethereum cryptocurrency is predicted to grow 3 times in just six months

Former BitMEX CEO Arthur Hayes says he expects Ethereum to rise to $ 5,000 by the end of the first quarter of 2023.

As the BitMEX co-founder explained in his latest blog post, Ethereum is likely to generate more revenue than bitcoin during 2022.

Although the Fed’s policy reversal (which Hayes expects in a few months) is likely to have a positive impact on the prices of all assets, the «merger» is an event specific to Ethereum, and this will already affect the price of ETH.

The merger is a long-awaited Ethereum update that will switch the network’s consensus mechanism from proof of work to proof of stake. This means that Ethereum miners will become obsolete, and cryptocurrency owners will be able to generate income by staking their assets.

The Federal Reserve has been pursuing an aggressive monetary policy for several months in an effort to curb record-high CPI inflation. The Fed’s actions have largely contributed to the selloff in equity markets and cryptocurrency markets.

Hayes believes that the Fed will likely reverse this trend within a few months and return to printing money to protect the health of the economy.