Bitcoin prices rallied again. This digital token is in the range of US $ 7,000 per coin (IDR 100 million) or up more than 10% from a month ago, according to Coinbase.
But Arthur Hayes, Founder of BitMex predicts the price of digital currency (cryptocurrency) will reach US $ 50,000 per coin by the end of the year
I don't really think we have seen the worst," Hayes said on Thursday (07/18/2018) as quoted from CNBC International.
BitMEX, or the Bitcoin Mercantile Exchange, is the largest cryptocurrency trading platform by volume.
"I want to see Bitcoin test US $ 5,000 to really see if this is a bottom price," Hayes said.
The Bitcoin price rally is good news for digital coin traders who have held back a lot because the price dropped below US $ 6,000 per coin.
In an email to CNBC, Hayes stressed, "I think the current rally will approach US $ 10,000. Then it drops again and tests the price of US $ 5,000. If that happens Bitcoin can reach US $ 50,000 (Rp. 715 million) at the end of the year."