Bitmex CEO Arthur Hayes: Bitcoin to $10,000 in 2019

22 Mar, 2019
by Alberto Arnaldo
Bitmex CEO Arthur Hayes: Bitcoin to $10,000 in 2019

With mostly gloomy predictions in the last days, and many of the most optimistic Bitcoin bulls settling for a sideways trend in 2019, Arthur Hayes has just shared his views on Bitcoin price for this year. His position, based on his end-of-year price prediction, could be dubbed as cautiously bullish.

Hayes made some interesting references to monetary policy as a means of context to his Bitcoin price predictions. He believes that, after rivers of almost-free money flowing from the Chinese central bank and the FED pumped all markets (including crypto) in 2017, 2018 was marked by a “pain train” that blew away many of those bubbled up gains.

Now, in the eyes of Hayes, the FED and the Chinese monetary authorities have given up on increasing rates and trying to govern credit growth, an approach which could trigger another expansionary phase in the markets.

The CEO and founder of BitMEX was cristal clear in the closing paragraph of their newsletter for customers, published today. Under the subheader “Get Excited”, Hayes mentions his belief that green shots will begin to appear in early Q4 after an “intense” chop, taking Bitcoin price back to $10,000. “That is a very significant psychological barrier. It’s a nice round sexy number”.

Even though Hayes believes that the ultimate should not be called until regaining $20,000, he acknowledges that it took 11 months to climb from $1,000 to $10,000 but less than a month to go from $10,000 to $20,000 back down to $10,000 again.

Read more: BitMEX has updated Terms of Service, cracking down on unauthorized access; BitMEX Research may have found a bug in Parity full Ethereum node

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