Former BitMEX CEO Arthur Hayes has made an ambitious price prediction for Ethereum, urging the crypto community to rally and raise the asset's price to $5,000 by Friday.
Hayes' Price Prediction
In a July 21 post, Hayes expressed his vision of Ethereum at $5,000, calling upon the community to pump the asset's price by the weekend. He noted that ETH recently surged to an intraday high of $3,822, the highest level since late 2024.
Community Support and Reactions
Hayes' comment quickly sparked engagement. Tom Lee, Chairman of Bitmine Immersions, a mining company that recently shifted its treasury strategy toward ETH, responded positively. Hayes followed up, noting that Lee’s influence in traditional finance could help accelerate the price surge.
Factors Influencing the Target Achievement
Ethereum has climbed 24% over the past week and 56% over the past month. To reach $5,000 by Friday, it would need another 32% move. Although ambitious, a recent CoinShares report indicates that institutional capital is flowing into Ethereum, with $2.12 billion in inflows recorded last week.
Ethereum's price continues to rise, supported by significant capital accumulation and community engagement. The key now is whether ETH can break through critical levels to reach the $5,000 target.
