BitMEX Founder Arthur Hayes Unveils Massive Price Targets for Bitcoin (BTC) and Dogecoin (DOGE)
BitMEX founder and crypto veteran Arthur Hayes is laying out bullish outlooks for Bitcoin (BTC), Dogecoin (DOGE) and the broader digital asset market cycle. In a new discussion on the Alpha Only podcast, Hayes says traditional finance (TradFi) firms could be what triggers froth and a subsequent collapse in crypto valuations. Hayes says TradFi will see crypto going up, and end up allocating through the big companies and projects. But as the market cycle continues and many projects become overvalued, Hayes says the investors will most likely begin to chase less legitimate projects, creating massive gaps between price and reality. “ And so in the beginning, the credit is well allocated, there are good uses for it. But as we get longer in the tooth for the rally, then you start allocating credit to dogsh*t because you have to allocate to get paid and that’s when you find, whatever the hottest pocket is where you see way too much money going into it, they...