BitMEX CEO: Bitcoin will increase to $ 50,000 by the end of 2018 – Inside Bitcoins

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Bitcoin recently reached weekly highs after a quick rebound on a low of $ 5,800, the CEO of BitMEX calls for other moves up .

Bitcoin sees the volume pump, moving $ 600 upward within 5 hours

Friday night, Bitcoin saw an unexpected increase in trading volume, bouncing quickly from level $ 5,800 in price.

Bitcoin fell below the $ 5,800 on Thursday, with many waiting for further declines. Ran Neu Ner, host of CNBC Africa's "Crypto Trader" show, has claimed $ 5,350 in the coming weeks. However, the recent rise has brought Bitcoin up to $ 6400, finding stability in the neighborhood of this level.

Despite being a welcome piece of price action, users have been quick to question why this has happened. Taking a look at the news sources, there does not seem to be a single catalyst for this price hike.

Some have attributed to the futures contract that has expired today or at the climax of this week's bullish news. Although the market would say the opposite, last week had a significant level of positive news. The positive institutional investment news from Circle, Blockchain or Andreessen Horowitz are just one of many positive news stories. But sometimes the market moves irrationally, in turn where there should not be any.

Many in the cryptocurrency community are still uncertain as to the future of Bitcoin. Leading some to ask, where could the next bitcoin price be?

CEO of BitMEX: Up! Up!

Arthur Hayes, CEO of BitMEX, a popular leveraged stock exchange, still has his eyes on the $ 50,000 EOY price prediction that he made earlier this year. year. Hayes, a former traditional asset trader and graduate of Wharton, has made a name for himself in the cryptocurrency industry after a tenure in the Asian Wall Street market.

He recently made an appearance on CNBC's "Fast Money," which became pronounced for the near-daily appearances of cryptocurrency personalities and analysts.

While he was on the air, Hayes noted that it was still reasonable for Bitcoin to reach new heights without precedent, despite the recent downtrend. The CEO said:

"Well, I think something that goes up to $ 20,000 in a year can have a correction up to $ 6,000."

Later, the cryptocurrency market may be "a positive regulatory decision, perhaps an SEC-approved ETF, to climb $ 20,000 or even $ 50,000 by the end of the year." # 39; year. "

However, faced with the predictions of other leading crypto-currencies, Hayes' prediction dominates everything else. Tom Lee, co – founder of FundStrat, has continually asked for a $ 25,000 Bitcoin by the end of the year, half of the BitMEX CEO 's forecast.

Maybe it's over-exuberant, some thought, but others think this call is rational. Hayes went on to say that he thinks the period for significant price movements will shorten.

He attributed the shrinking time horizons for price action to the increase of participants in this rapidly growing market, developing:

we went from $ 1,200 to $ 200. In 2015 to 2017, (we went from) $ 200 to $ 20,000. So, we have already done this kind of movement before. I think the delay will decrease because you have many more people in the market, who have invested capital and resources to negotiate this asset class.

The increase in liquidity and the significant increase in interest to believe that "the time between an aggressive bear market and an aggressive bull market" will shorten.

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