Hayes: A Positive Regulatory Etf Will Push Bitcoin to $50,000 in 2018

Bitcoin priceArthur Hayes, the Co-Founder and CEO of BitMEX, a Peer-to-Peer Trading Platform that offers leveraged contracts that are bought and sold in Bitcoin predicts that the pioneer cryptocurrency will sell for at least $50,000 by the end of 2018.

Hayes made his prediction while speaking on the CNBC Fast Money show on June 29 2018. This prediction has been described as a “SuperBowlish Forecast”.

One step away

According to Hayes, the cryptocurrency is just one positive regulatory decision away from climbing through $20,000 on its way to $50,000 by the end of the year.

Considering the slump in price that Bitcoin has experienced for most part of 2018, Hayes remains bullish, noting such as a normal correction.

“I think that something that goes up to $20,000 in one year can have a correction down to $6,000 and will definitely find a bottom at about $3,000 and $5,000 range”, says Hayes.

This insinuation definitely upholds the opinions of most long term investors who have continued to HODL, seeing every deep as an opportunity to buy more Bitcoins into their portfolios.

Volatility depends on Price

BitMEX is the world’s largest cryptocurrency exchange by volume, and Hayes says that his company has so far tripled its total trading volume of 2017 already in what he describes as a great year…

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