Arthur Hayes: Bitcoin Will Reach $50,000 by End of Year

posted on

< 1 min

Despite the recent dramatic days for cryptocurrencies, Arthur Hayes said the most famous digital currency will reach $50,000 by the end of the year.
Bitcoin’s price has been on a wild roller coaster with but “something that goes up to $20,000 in one year can have a correction,” Hayes, the co-founder and CEO of BitMEX, said. “We could definitely find a bottom in the $3,000 to $5,000 range,” he said. “But we’re one positive regulatory decision away, many an ETF approved by the SEC, to climbing through $20,000 and even to $50,000 by the end of the year.”
Last week bitcoin, the largest cryptocurrency, fell below the $6,000 mark. Meanwhile, Ethereum, Litecoin, bitcoin cash and ripple are down for the year as well. Nevertheless, Hayes pointed out that bitcoin’s volatile nature is what makes it so attractive to investors.
“Now that we have more visibility, more people talking about bitcoin, the time between an aggressive bear market and an aggressive bull market, I think, is going to shorten,” he said.
[cta_en link=”https://iqoption.com/lp/ultimate-trading/en/?aff=88&afftrack=btc0207″ name=”Trade now”][/cta_en]

general risk warning

CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage.

79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

NOTE: This article is not an investment advice. Any references to historical price movements or levels are informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. Information regarding past performance is not a reliable indicator of future performance. Forecasts are not a reliable indicator of future performance. In accordance with European Securities and Markets Authority's (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.

share

you may also like