Arthur Hayes Predicts A High Of $50,000 By Year End After Price Hits Bottom At $3,000

For the second time – but this time with a little bit of assurance – Arthur Hayes, the CEO of BitMEX cryptocurrency exchange, says on a CNBC’s “Fast Money” interview while speaking his opinion on the future of cryptocurrencies mentioned that Bitcoin would make a new height of $50k before the year runs out. But before then, he sees a fall in price to $3k before the bulls take over.
“We could definitely find a bottom in the $3,000 to $5,000 range. But we’re one positive regulatory decision away, [maybe] an ETF approved by the SEC, to climbing through $20,000 and even to $50,000 by the end of the year.”
This will not be the first time Hayes will be making such prediction. He has said the same thing mid-May on the same program, but this time, he was more elaborate on his prediction.
Nevertheless, the CEO had made it clear that his predictions may or may not come to pass, but he was going to make one anyway as that’s what he foresees about the virtual currency.
“It’s my job to make predictions. Whether they’re right or wrong, it doesn’t matter to me.”
For a lot of cryptocurrencies traders, analysts, and enthusiasts, Hayes prediction sounds weird as his prediction doubles current ATH at about $20k.
Analysis from a number of people in the past has also shown that it would take some sort of miracle for bitcoin cryptocurrency to hit the $20k mark this year. Also, if cryptocurrencies would double their previous highs, a lot of uncertainties about the cryptocurrency market would have been fixed.
A short-term prediction would be that of John McAfee, who predicted Bitcoin smashing $15,000 before the end of July. Before that time, John had tweeted Bitcoin would hit $15k before the end of June, alongside Golem, Bitcoin Private, and EOS hitting $5, $200, $32 respectively before the end of July.
Whether these predictions would happen or not is yet to be ascertained, but recent price surge seems to put cryptocurrencies on the lane of it meeting set targets.
Bitcoin had over the weekend recorded massive gains, and at the time of writing, the first top 3 cryptocurrencies had been in green with Bitcoin, Ethereum, and Ripple making a 3.46%, 3.64%, and 4.54% respectively.

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