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Home / Business / BitMEX CEO announces $ 50,000 bitcoin price forecast

BitMEX CEO announces $ 50,000 bitcoin price forecast



/ news / 2018/06 / bitmex-ceo-arthur-hayes-stand-by-50000-bitcoin-price-forecast /

BitMEX boss Arthur Hayes recently announced that Bitcoin (BTC) continues to look like will reach $ 50,000 by the end of this year. The Wharton School graduate sows on CNBC that he thinks "something that can reach $ 20,000 in one year can have a correction to around $ 6,000."

He added that Bitcoin could be "a positive regulatory decision away" $ 20,000 price range and then climb up to $ 50,000. According to Hayes, this regulatory decision might look like an ETF approved by the US Securities and Exchange Commission.

The CEO of BitMEX further stated that he believes that larger price movements in the cryptocurrency will occur in even less time as we go forward. This, he added, is due to the increase in the number of active participants in the developing encryption market.

Hayes then pointed out that from 201

3 to 2015, "we went for $ 1,200 to $ 200" and from 2015 to 2017 "[from] $ 200 to $ 20,000." After Hayes weathered these large price volatility in the past few years has, the time span between these high price fluctuations could decrease due to the sheer number of investors who have invested capital and resources for trading, sink this asset class.

In addition, the chief executive of the cryptocurrency exchange showed higher liquidity and an added interest in cryptocurrency, which would lead to a shorter time span between an aggressive bear market and an aggressive bull market.

Bitcoin's unexpected rise

The co-founder of Fundstrat , Tom Lee, has also made a bullish Bitcoin price forecast, assuming that the cryptocurrency will reach $ 25,000 by the end of 2018. Hayes himself has predicted in the past that BTC will reach $ 50,000.

It is noteworthy Bitcoin's share price dropped below $ 5,900 this week and many market analysts thought it would continue to fall, with the cryptocurrency going down a trending down from an all-time high of nearly $ 20,000 since the end of last year, and surprisingly, the cryptocurrency flagship is around $ 6,400 has grown and seems to be growing to stabilize this price.


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