The cryptocurrency world is full of Bitcoin price prediction. But when the head of a large cryptocurrency exchange pronounces it, it attracts special attention. BitMex CEO predicts bitcoin price will reach $50.000 by the end of this year.
Arthur Hayes, BitMEX CEO Predicts Bitcoin Price
BitMex CEO, Arthur Hayes. is convinced that Bitcoin price can reach $ 50.000 by the end of 2018. He emphasizes that the figure itself is of little interest to him.
“If it goes up, if it goes down, if you have Bill Gates calling it a fraud … Short it, I don’t care. If you think it’s going to be $1 million in a few months, great, buy it. I still don’t care. We just match trades,” Hayes said in his interview to Fast Money on CNBC.
He added that the cryptocurrency industry is a “retail phenomenon”, as the involvement of institutional investors in the industry is extremely weak.
Commenting on the seriousness of his forecast, he noted:
“It’s my job to make predictions. Whether they’re right or wrong, it doesn’t matter to me.”
Bitcoin rate is now going through a phase of decline: the current price of $8.252 is too far from Hayes’s prediction. Although, as Fundstrat noted, the major growth of Bitcoin price occurred for a short period of time.
BitMEX cryptocurrency exchange is mainly oriented to Asian retail investors. Hayes noted cultural differences that affect the dynamics of the cryptocurrency market in the Western world and Asia.
“Asia dominates cryptos because they’re very used to trading digital assets. South Korea has been trading digital goods related to gaming for two decades. When you move to a purely money based digital currency they understand that culturally, so they get on board quickly.”
Hayes is one of the participants of the Consensus 2018 conference in New York.
Bitcoin Price Prediction by Tom Lee
We recall that earlier in January, Bitcoin price prediction was announced by the founder of Fundstrat Global Advisors, Tom Lee. According to him, Bitcoin price would reach $ 25.000 by the end of this year. Later he repeated his forecast.