Arthur Hayes, Co-founder & CEO of BitMEX in a publication on March 22 stated that Bitcoin’s price will slowly increment to $10,000. Hayes also believes that the market will be green towards the fourth quarter of the year, and before then, a lot of correction will still take place.
BitMEX CEO Says 2019 Will be a Boring Year for Crypto
Arthur Hayes in a ‘BitMEX Crypto Trader Digest‘ report outlined that 2019 will be a boring year for cryptocurrencies and so far, there has been a depressed price, volume, and volatility. The local lows of 2018 are yet to be re-tested and investors who’ve made losses might have to wait much longer for the sphere to gain its momentum.
However, the CEO believes that the market will turn green towards the end of 2019. In his opinion, Bitcoin will move gradually to $10,000. He also said all hope is not lost given that even Ripple despite the cryptocurrency winter is worth more than $0. Likewise, “Justin Sun’s new age religion TRON, paired with the Pope CZ, tells us there are those still willing to eat shitcoins with a smile.”
Hayes further says:
It’s [$10,000] a nice round sexy number. $20,000 is the ultimate recovery. However, it took 11 months from $1,000 to $10,000, but less than one month from $10,000 to $20,000 back to $10,000.
BitMEX Research Launches an Ethereum Network Monitor
Hayes also outlined BitMEX Research’s collaboration with TokenAnalyst, its Ethereum network data and analysis partner. Their partnership has led to the launch of a website, Nodestats.org that will help to monitor the Ethereum network. The website connects to five nodes and collects computational data about each node every five seconds.
These aside, Hayes prediction can be likened to that of Mike Novogratz, a former Goldman Sachs partner. Novogratz believes that Bitcoin will gradually move to $8,000 in 2019. He also stated that the frenzy in the market has been flushed out due to the end of 2017’s crypto bubble.
Less Bullish Prediction About Bitcoin’s Price
While these are still positive predictions, it may not be considered extremely bullish in comparison to those made by some cryptocurrency traders and analysts. Needless to say, these are predictions for Bitcoin in the next few years to come. AngeloBTC, for instance is looking at a price of $30,000 by 2021 and TraderScarface has predicted and $102,000 in the next bull run.
BTCNN on March 2 also informed of Peter Brandt’s prediction of $67,193. It is worthy to note that the highly successful cryptocurrency trader had also predicted Bitcoin’s 80 percent dump in price in 2018. Brandt also added that central banks will likely abandon the U.S. dollar as a reserve currency.