.CryptoHayes has predicted that the price of Ethereum could reclaim the $5,000 level
Hayes believes that the price of the cryptocurrency could skyrocket to as high as $5,000 after the merge if the transition to proof-of-stake ends up being a success and the U.S. Federal Reverse reverses its hawkish stance.
Notably, Hayes believes that the much-anticipated event, which is expected to take place this September, is not actually priced in by the market. He is confident that it will not be a “buy the rumor, sell the news” event.After the merge, Ethereum will become deflationary, which will make the cryptocurrency more scarce. The rate of deflation will keep increasing due to the growing popularity of decentralized finance applications.
However, Hayes then became a believer in 2020. The controversial entrepreneur believes that decentralized finance poses “a credible alternative” to the existing financial system.
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