Bitcoin [BTC] at $ 50k; The time between the bear market and the bull market will be reduced: according to the CEO of BitMEX

Arthur Hayes, CEO, and co-founder of the Bitmex cryptocurrency trading platform was at CNBC's Fast Money on June 29th. On May 14, the former Citi group trader had predicted that Bitcoin [BTC] will increase to $ 50k by the end of the year and he continues to enlist. hold on to his prediction even now.

He mentioned that:

"If the BTC can go up to 20k in a year, then the price hike is just one step away from a positive verdict by the SEC."

Jeff Goodman, a Twitterati says:

"Why Citigroup let him go?" # fantasyland LMAO All these bitcoin firms pop up like popcorn everywhere. all disappear soon once bitcoin dropsand is no longer commercial. # REALLY "

A cryptocurrency enthusiast says:

" 50 K is not realistic at all.Can be 20 years old if companies continue to develop a good use of chips.We need to promote more encryption so that the masses drive up the price.This is not the magic, it 's not the magic. is the demand "

In addition, he was questioned about the status of trading volume of BitMEX during the bear market. Arthur mentioned that the exchange has tripled what they have already done in 2017, and they have a great year now. He went on to say that BitMEX also offers 100x leverage to all customers.

The panel also discussed market volatility. According to Arthur, volatility has dropped as the price goes down, which is actually a problem. As volatility decreases, the chances of the BTC reaching a high number also decrease.

Considering the history of BTC in 2017, when it rose to $ 20,000, the time lag between an aggressive bear market and an aggressive bull market will shorten. It is also noted that the number of investors involved in the market to trade this asset class has also increased this year, says Arthur.

When asked about the SEC's verdict on Ethereum [ETH] is not an alleged security, he says:

"The ETF brings some of it to the table. Real money at the table, here and there As key executives have to go out and get inventory, there will be subscriptions for real money to buy the asset.The SEC proclaims that the ETH is now a token of utility and is not a security, it does not mean that the money will enter the market.This simply means that people who will hold ETH will feel better about this decision. "

Adam Davis, a cryptocurrency investor says:

" Amazing to think that it will be considered "underperforming". "

Edgar Soares, chief architect at Arquitecto.pt and a cryptocurrency trader says:

"Looks like @CryptoHayes is doing the work of God. Blessed you brotha "

Rafi Kasim, an entrepreneur commented:

" speculating news towards the next financial crisis .. "

YuLaw, a day trader says:

" They are hyping up to # 39; a return to bullish market to suck in people to buy so that there is liquidity when they start selling. BTC will continue to fall to level 2k. "

Follow us on Telegram | Twitter | Facebook

Laira is a full-time writer at AMBCrypto, she has a degree in computer science and is about a year old. Writing experience: Her enthusiasm and keen interest in developing her knowledge of blockchain and cryptocurrency have made her part of AMBCrypto, she currently has no value in crypto-currency. currency or its projects.