Arthur Hayes Sees Altcoins Rising After Bitcoin Tops $110K

• Bitcoin Needs to Break $110K for Altcoins to Rise
• Hayes Bets on Bitcoin at $1 Million by 2028
• Ethereum Could Overtake Solana in the Next 24 Months

BitMEX co-founder Arthur Hayes said the start of the next altcoin season depends on Bitcoin breaking through the $110 mark, with a steady recovery towards the $150 to $200 range and an increase in trading volume. According to him, this movement could happen as early as the summer or early in the third quarter, when investors tend to rotate their funds into altcoins in search of higher returns.

The so-called “alt season” occurs when altcoins outperform Bitcoin in value, usually after a strong BTC rally. However, Hayes believes that the next cycle will be more selective than in 2021, when virtually all tokens soared regardless of fundamentals. This time, coins with low circulation, no users or revenue, and listed on few centralized exchanges are unlikely to perform significantly.

“I think that happens sometime in the summer or early Q3, and then the rotation starts into a lot of the altcoins,” Hayes said during an interview.

Now head of the Maelstrom fund, Hayes recently received a presidential pardon from Donald Trump. He projects that Bitcoin could reach $200 this cycle and reach the $1 million mark by 2028, coinciding with the end of Trump's second term, if he is re-elected.

Bitcoin has been showing strength in the market. Last Sunday, it reached $107 before retreating, and on the closing date of May 18, it registered its highest weekly close, above $106, with a streak of six consecutive weeks of gains, fueled by spot Bitcoin ETFs and strong institutional demand. It is currently trading at around $103, about 6% below its all-time high.

Hayes also revealed that he keeps 20% of his portfolio in gold, both physical and in mining stocks, which he considers to be still undervalued even with the metal's rise.

Regarding the dispute between Ethereum and Solana, Hayes declared a preference for Ethereum. For him, the fundamentals and robustness of the ecosystem make ETH a more solid choice for the next 18 to 24 months. “I believe that Ethereum can outperform Solana in this next bull period,” he concluded.