CEO of Bitmex, Arthur Hayes - "Bitcoin will hit $10k this year"

in #bitcoin5 years ago (edited)

Soon it will be time to get excited again!

Those were the words uttered by the CEO of cryptocurrency exchange Bitmex.

One of the largest exchanges by volume in the world.

According to Hayes there are several things coming together that likely mean it is going to get fun again for bitcoin and the crypto markets later this year.

Much of 2019 is going to be sideways chop, but starting around Q3 of this year we should start to see some green shoots.

Why does Hayes think that?

Hayes basically says that a lot of the euphoria we saw in bitcoin was due to monetary policy in the US.

Specifically, interest rates!

(Source: https://us3.campaign-archive.com/?u=db45c09bdf20e1866bb32123f&id=56020a0df1)

The fact that interest rates were at or near zero for so long, money started searching for yield any place it could find it.

Which eventually lead to large chunks chasing bitcoin and crypto as it ran up in late 2017 and early 2018.

Well, what happened around that same time period that popped the bubble?

The FED started a rate hiking cycle.

That went on for all of 2018.

Big surprise, bitcoin and crypto were weak for all of 2018.

Things are about to change...

Recently, the FED announced they are slowing their rate hiking schedule and according to Hayes, are likely to halt it altogether.

Once easy money starts flowing again, it will find its way into bitcoin.

He expects that to happen end of this year.

That will pop prices to $10k before the year turns.

For more of his thoughts, read this:

https://us3.campaign-archive.com/?u=db45c09bdf20e1866bb32123f&id=56020a0df1

Stay informed my friends.

-Doc

Sort:  

Sh** wouldnt that be wild.

Posted using Partiko Android

It would be welcomed, that is for sure.

Well I hope he is right, it can be a good thing to see some green shot again in the crypto space

Posted using Partiko iOS

It has been far too long since we have had any green shoots!

🎁 Dear @steemcollator,

SteemBet Seed round SPT sale is about to start in 2 days!

When our started the development of SteemBet Dice game, we couldn’t imagine that our game would go so viral and that SteemBet would become one of the pioneers in this field.

In order to give back to our beloved community, we’ll distribute 4000 STEEM to SPT holders immediately after Seed sale. Plus, investors in this earliest round will be given 60% more tokens as reward and overall Return on Investment is estimated at 300%!

Join the whitelist on SteemBet webiste now and start investing! Feel free to ask us anything on Discord https://discord.gg/tNWJEAD

spt-sale-2-day.jpg

He's had a lot of wrong predictions. Apparently, most so-called "predictions" are based on hopes those people's businesses will actually continue to live or grow based on a better market. Self-fulfilling prophecies ftw!

I predict BTC at >=4100$ in 2019. Fingers crossed!

Posted using Partiko Android

True, he has. Though he isn't a perma bull by any stretch. If you read much of his writings, he has been bearish on the crypto space just about ever since the bubble popped...He was calling for lower lows on bitcoin and ether for much of last year when others were saying the lows were in. He was proven right on those. And it doesn't really help his business for prices to keep going down... yet he called for it.

Interesting correlation with interest rates but just follow the money and you will see that the latest round of capital raise for Bakkt has it valued at $785 million! This despite the fact it has yet to launch!

Posted using Partiko iOS

Yea I did see that as well. Though it sounds like it might be a while before it launches. Hopefully there is sufficient demand once it does! CBOE leaving didn't seem like a good thing overall...

I mean this could happen, but market moves and prices people are always looking for a narrative. It can be the upcoming having just as easy as the fed cutting interest that could cause the next bull run.

Hoping he's correct, but definitely not putting any stock into any comments like this to change the way I trade.

That is probably wise. I look at it like this... I don't think lower interest rates will make bitcoin go up by themselves, but I think the FED no longer raising rates removes a considerable head wind. Same with the dollar no long going up, another headwind removed. I think we are in a better macro environment for bitcoin now and all it needs is a catalyst to get going. The halving could be just that.

Dear jrcornel:

We are SteemBet, the next generation STEEM based gaming platform. We are honored to invite you to join our first fantastic dice game, which is just the beginning of SteemBet game series. Our dividend system has now launched. The prize pool has already accumulated 2,000 STEEM and more than 60 players have participated in staking mining token SBT. A huge reward of 40,000 STEEM is awaiting! Join us NOW with other 500 STEEM users to loot HUGE dividend reward!!

SteemBet Team

Official Website
https://steem-bet.com

Discord Server
https://discord.gg/95cBN3W

Telegram Group
https://t.me/steembet

How do you get that reward?

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 70351.33
ETH 3563.43
USDT 1.00
SBD 4.72