Arthur Hayes, the former CEO of BitMEX, has again made headlines, this time for his opinion on the start of the highly anticipated altcoin season. Bitcoin is currently sitting at $105K, basking in the bullish momentum ushered in by the passing of the Genius Act, which solidifies crypto innovation into the mainstream. Hayes has come up with a new prediction, sharing the precise numbers as well as when the markets could potentially experience the beginning of the alt season.
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Hayes and His Latest Alt Season Theory
In his recent interview with Fortune, Hayes was noted sharing details on when he believes the alt season could finally commence. When asked about when the alt season can possibly begin, Hayes responded it will begin as soon as Bitcoin soars above $110K. He later shared how the altcoin season will begin shortly when BTC’s increasing volumes reach $150 to 200K.
“I think Bitcoin needs to go above $110K and increasing volumes reach $150K-200K. I think that happens sometimes in the summer or early third quarter, and then the rotation starts into various altcoins.”
The market is still relishing the bouts of 2021’s spectacular price rally, the one that helped altcoins soar at their highest price targets. When asked about whether the 2021 altseason rally could ever be repeated, Hayes shared how it’s unlikely that the coins may soar the way they did in 2021.
“I don’t think it’ll be like that in 2021, that every single coin just goes up 100x. We’ll have a new narrative that people are going to try to trade. And it’ll trade at some crazy price. But the old dino coins in your portfolio that aren’t moving probably aren’t moving for a reason. I think a lot of those coins have high FDV. Low float, no customers, no revenue, just some CEX listings that went down 95%. I don’t really see why those should do well in the next cycle.”
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Hayes also shared the type of coins or altcoins that he typically targets and expresses interest in. When asked about his preferred return style, he responded that he likes to explore coins with a higher return rate.
“So what’s a good return for you on this market? What price targets and what returns do you usually target? Hayes: They need to beat the return of Bitcoin. So if we’re going to deploy capital, it needs to outperform Bitcoin.”
Per CoinCodex, Bitcoin is expected to hit $114K by mid June 2025.
The Former BitMEX CEO’s Thoughts on Gold
Apart from owning crypto, the former BitMEX CEO shared how he also owns a sizable amount of gold in his portfolio. He later shared how he believes gold is up for a decent price in the near future, as central banks around the world are heavily bulking on the asset.
“I’ve owned gold for a long time, so I have physical gold in a vault. I own a lot of gold mining equities. That I think are still undervalued, given the massive rising price in gold. I think that gold can go much higher from here because central banks are buying gold.”
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