Get Ready For $20k Bitcoin: BitMEX CEO Is Confident

The CEO of the derivatives giant BitMEX is in the latest cryptocurrency news for announcing a bull run for Bitcoin. According to him, we should get ready for Bitcoin shooting to $20,000 as a result of emergency measures from the United States Federal Reserve (known as the Fed) which is one of the industry’s biggest firms.

In a tweet on September 18, Arthur Hayes who is the head of the derivatives giant BitMEX, forecasted that the fresh quantitative easing (QE) would further decrease faith in fiat currency. His comments come a day after the Fed swooped to decrease interest rates on some loans which reached more than 10% – or four times its target.

For those of you who did not follow our coming altcoin news, more than $53 billion was pumped into the economy. As Hayes wrote:

“QE4eva is coming. Once the Fed gets religion again, get ready for #bitcoin $20,000.”

The Fed’s QE injection also marked its first emergency intervention since the end of the 2008 financial crisis – an event which directly led to Bitcoin’s creation. Even though the cryptocurrency world hasn’t seen a global crisis of the same scale, markets have shown that the Bitcoin price is benefitting from the political and economic uncertainty.

Hayes thinks that everyone should get ready for a $20k Bitcoin. What’s interesting is that him doubling down on the Bitcoin price comes after the European Central Bank (ECB) has also decided to follow the QE trend once more this year.

Commentators featured on many best cryptocurrency news sites stated their beliefs, showing that markets want the ECB to continue the same behaviour, giving rise to the “QE4eva” phenomenon as described by Hayes.

Hayes’ comments to get ready for a Bitcoin bull run come month after the BitMEX CEO noted that Bitcoin would again hit its all-time high of $20,000. As a lot of altcoin news sites then reported, BitMEX is still grappling with a lot of unwanted attention from the US regulators who suspect that Americans are bypassing BitMEX geoblocking and accessing the platform.

Meanwhile, the latest updates show that the 24 hour trading volume has surged to $64 billion and that altcoins are now in the focus – some of which have surged by more than 15% in a single day (XRP).