Arthur Hayes, the CEO of BitMEX, predicts earlier last month that bitcoin will reach $50,000 mark by the end of this year.
Hayes, the owner of the largest crypto platform by volume still sticks to his Bitcoin price prediction believing that by the end of this year Bitcoin will hit $50K. According to him, although Bitcoin has registered low prices during 2018, the BTC trading volume has tripled so far this year which is a clear sign of the boost that crypto market is receiving.
In a recent interview with CNBC Hayes said:
"I think something that can go up to 20k in one year can have a correction down to about 6k. I think it definitely found a bottom … but with one positive regulatory decision away, to climb to 20k or even 50k by the end of the year."
#Bitcoin sitting at its lowest levels since November, but #crypto bull @CryptoHayes is sticking by his call for Bitcoin heading to $50K. pic.twitter.com/pOL2ekBP0w
— CNBC's Fast Money (@CNBCFastMoney) June 29, 2018
He also mentioned that the time span for a rebound will be shorter as many more people are involved as investors, which is a result of huge public exposures on cryptocurrencies recently.
Bitcoin and the cryptocurrency market has endured a difficult start to 2018 with bitcoin, in particular, dropping to below $6,000 in February after having almost broken the $20,000 ceiling in mid-December 2017. Bitcoin prices dipped below $5,800 today, falling past this price level for the second time this week.
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@heer you are expert.but crypto market is volatile.so that crypto is go to reach 50000$ this year. it is not true.all depend future.
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After all this crypto craptism we all know, the value is created by us.
It is our worktime put into the system ,
with total proof, that this worktime was really done as worktime,
proven by the undeletability of the blockchains.
Even substracting the energy costs our "proofly""worked""time" makes enough to create currency value.
Or am I wrong with this ?
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