BitMEX Chief Says Bitcoin Price Will Hit $50,000 In 2018

It seems like there is never enough predictions in the world of cryptocurrencies. Obviously, the most viral topic in these predictions is usually the Bitcoin price, which according to the BitMEX CEO, is going to skyrocket to $50,000 this year.

Currently, Bitcoin is near the $8,500 margin. However, many people are confident that the cryptocurrency will rise. Arthur Hayes, the co-founder, and CEO of Seychelles-based exchange BitMEX is one of them. His bullish prediction comes from the massive potential of the leading cryptocurrency.
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The Fundstrat market strategists have also been among “the wise people” saying that the Bitcoin price tends to unfold over just a handful of days each year. The Asia-focused BitMEX, meanwhile, aims at retail investors and features a palette of advanced tools that anyone might expect to see on an institutional trading platform (derivatives, margin trading, up to 100x leverage). The exchange also supports short trading in perpetual contracts which is why it is popular for many traders.

Aside from his bullish prediction, Hayes also addressed the numerous cultural differences that affect the market dynamics in the Western world as well as Asia. As he stated:

“I think Asia dominates crypto because they’re very used to trading digital assets. There’s really not too much institutional presence right now in crypto. It is a retail phenomenon.”

Hayes is popular in the Twitter circles and is seen as one of the viral faces attending this year’s Consensus 2018.

Did you see my ride today at #Consensus2018 ? pic.twitter.com/qGznsNMgWo

— Arthur Hayes (@CryptoHayes) May 14, 2018

If his predictions turn out to be true at a later point, though, we believe that his popularity will spike even more.