BitMEX CEO Shows $ 50,000 Bitcoin Price Forecast

BitMEX CEO, Arthur Hayes, recently stated that he thought still that Bitcoin (BTC) would reach $ 50,000 by the end of the year. The graduate of Wharton School said on CNBC that he thought that "something that goes up to $ 20,000 in one year can have a correction at around $ 6,000."

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

The CEO of BitMEX added that he thought that cryptocurrency price fluctuations would be more important – we are going ahead. "This, he added, due to the increase in the number of active participants in the evolving market of crypto.

Hayes then pointed out that from 2013 to 2015, "we went from $ 1200 to $ 200" and from 2015 to 2017 " Having gone through these strong price fluctuations in previous years, Hayes thinks it's possible that the time between these high price fluctuations becomes shorter because of the large number of investors who have invested capital and resources for trade. In addition, the CEO of the Cryptocurrency Exchange has revealed that higher liquidity levels and increased interest in cryptocurrencies would reduce the time lag "between an aggressive bear market and an aggressive bull market."

Bitcoin's unexpected surge

Tom Lee, co-founder of Fundstrat, also made a bullish price forecast for bitcoins, as he believes that cryptocurrency reaches $ 25,000 by the end of 2018. Hayes he himself once predicted BTC will reach $ 50,000.

Notably, the price of bitcoin fell below $ 5,900 this week and many market analysts thought it would go down further. Cryptocurrency has had a downward trend that has dropped nearly $ 20,000 since the end of last year. Surprisingly, however, the flagship cryptocurrency has climbed to around $ 6,400 and seems to be stabilizing at this price.