CEO of the cryptocurrency exchange BitMEX, Arthur Hayes (Arthur Hayes) in the transmission of Fast Money on CNBC said that the cost of bitcoin in 2018 could rise to $50 000.
A former trader at Citigroup and Deutsche Bank noted that it does not matter? which in the end will the course first cryptocurrency, as it’s his job to make predictions.
«My job is to make predictions. For me it does not matter whether or not they … if the price goes up or down if bill gates calls bitcoin a fraud… you can open a sell order, please. I don’t care. If you believe the price will reach one million dollars in a few months, buy. Me is also not worried. We just provide the opportunity for trade,» said Hayes.
He stressed that the cryptocurrency market is a «retail phenomenon», as the concentration of institutional investors in the sector are extremely low. According to the head of BitMEX, two-thirds of total trading volume creates the Asian market.
«In Asia are accustomed to digital assets and therefore they now dominate the market of cryptocurrencies. For example, South Korea for 20 years sells digital goods related to the games. And when the transition to a purely digital currency, for them it was understood in cultural terms, and so they quickly join,» explained Hayes.
In the beginning of the year, you predicted that by the end of 2018, the cost of bitcoin will reach $25 000. However, other analysts believe that in 2019 the price of BTC will be between $20 000 to $64 000.