Good morning traders! To ease into the approaching weekend, we're gonna take it easy and get with a nice prediction, which should be sweet for every crypto hodler.
The prediction itself comes from the CEO of BitMEX, on of the largest cryptocurrency exchanges, residing in Hong Kong. Arthur Hayes, the person in question, was formerly an equities trader in Citigroup and has in the past enjoyed the lavish lifestyle of floor traders, until all changed after the most recent market crash. As the banks tend to tighten their belt and let people go after market setbacks, Hayes got the boot, never looked back and found Bitcoin.
Now running Bitmex as a CEO, he and his team are fighting the good fight, offering 100:1 leveraged cryptoderivatives trading to investors and making themselves a cool $83 mil in the process in 2017 alone.
At the Consensus Conference in NY, Arthur Hayes made people smile, rolling in with a Lambo (crypto hodlers will get it).
So lets forget the Lambos for a while and talk about the prediction itself.
The charismatic CEO of BitMEX says that traders should expect Bitcoin's value rising and reaching $50 000 by the end of 2018 already. From it's current price, this would mean that Bitcoin would have to at least 6x, to get close to that level. Hayes, when asked for his prediction for Bitcoin, never hesitated giving his answer as he spat it out immediately.
One can not bet his enire savings on his predictions though, as Hayes is a trader and tends to make predictions easily - he himself claims it's his job to make them. Well, one is sure, Arthur Hayes is one of those guys who can make educated guesses regarding trading and financial instruments. Whether a legit guess or just a shameless plug to get more business - up to the readers to decide. He makes it clear that they just match trades :)
Hayes is mostly operating in Asia, where cryptocurrency adoption has been growing rapidly as people tend to get more easily on board. Hayes explains via cryptoslate.com:
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.
Eventually, only time will tell, but one can feel the pressure in Bitcoin growing for a move, like a waking volcano that wants to erupt.
credz: pixabay.com
Want more coolness? Here's VIT CEO Struart Duncan with Ned Scott at Consensus 2K18. The porn king and the prom king.
Materials used:
finance.yahoo.com
cryptoslate.com
bloomberg.com
twitter.com/cryptohayes
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Title image from pixabay
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