Arthur Hayes, co-founder of BitMEX, has revised his forecast for Ethereum, now predicting a price of $10,000 this year, doubling his previous estimate. In a recent blog post, Hayes attributes this bullish outlook to a resurgence in investor confidence and a broader expansion of credit in the U.S. economy, which he believes will significantly benefit Ethereum and similar cryptocurrencies. Ethereun recently traded at approximately $3,590, down from its 2023 high but still within reach of its all-time peak. Following a robust performance over the past month, where speculators heavily invested in Ethereum products, Hayes asserts that a major bullish rally is on the horizon. He emphasizes that Ethereum has gained traction among institutional investors despite previous struggles. Hayes draws parallels with past economic cycles where increased credit directly influenced Bitcoin's surge, suggesting a similar trajectory for Ethereum, propelled by expanded financial operations in the U.S.

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