Arthur Hayes predicts the return of the "alts season" after this summer, with a forecast of Bitcoin increasing 2.5 times by the end of the year.

## Arthur Hayes' New Market Prediction

Arthur Hayes, who participated in an interview with the economic magazine Fortune, predicted a bullish market.

Hayes, who accurately predicted the recent bottom, reiterated his previous bullish forecast that "Bitcoin will reach approximately $250,000 (around 37.5 million yen) by the end of this year." He also claimed that in the long term, "By the end of 2028, when President Trump’s term ends, we can expect a level equivalent to 10 times the current amount, around $1 million (around 150 million yen)."

In the short term, it is predicted that "by this summer or the beginning of the third quarter, 1 BTC could reach 150,000 to 200,000 dollars." Based on past market cycles, there is an indication that "funds will begin to shift to altcoins" thereafter, and it also mentioned the possibility of a resurgence of alt season, where numerous altcoins could surge.

Mr. Hayes noted that the U.S. Department of the Treasury is employing strategies to reduce the general fund balance from $750 billion to $450 billion, utilizing methods to avoid the debt ceiling. He warned that "the U.S. fiscal deficit is increasingly expanding."

This situation is analyzed as a tailwind for Bitcoin. "As the government continues to incur debt and Secretary of the Treasury Bessent advances the necessary measures to raise funds at affordable interest rates, Bitcoin will continue to rise significantly," it was stated.

Regarding the cryptocurrency-related policies of the Trump administration, it was stated that "(as promised) they will do things that are positive," while also indicating a realistic view that "Trump is the President of the United States, and there are numerous pressing issues that the administration should prioritize in finance and economics. We need to be patient and wait."

He revealed that he allocates about 20% of his portfolio to gold.

"Gold prices may rise further in the future," he stated, predicting that "the U.S. will significantly increase its gold holdings and value to induce a weaker dollar." Ultimately, he presented a bold view that "gold prices could reach between $10,000 and $20,000."

Altcoin Outlook

He expressed noteworthy views regarding Ethereum, stating, "The performance outlook is good precisely because it is disliked," and emphasized the current opportunity for contrarian investment.

"Ethereum still possesses the largest TVL (Total Value Locked), the most developers, and the most secure PoS (Proof of Stake) blockchain. In the upcoming 18 to 24 months of a bull market, it is highly likely that Ethereum will outperform Solana," the analysis stated.

However, a different development is expected compared to past bull markets. It is claimed that "an altcoin season where all altcoins surge indiscriminately like in 2017 and 2021 will not be reproduced." It was expressed that "there is no basis for old altcoins that have low liquidity, lack substantial use cases or revenue, and have fallen 95% from their all-time highs to make a complete comeback in the next cycle."

Arthur Hayes is scheduled to be a speaker at the large Japanese conference "WebX 2025" this summer.

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