Bitmex Co-Founder speculates on Bitcoin's price
BitMex is among the top 20 crypto exchanges and offers margin trading to its users. The co-founder of popular U.K. based exchange Bitmex, Arthur Hayes has published an interesting newsletter for his crypto-traders.
In a long meme-filled newsletter, Hayes speculated that 2019 will remain relatively calm with a spike to $10,000 by Q4 2019.
"Green shoots will begin to appear in early Q4. Free
money and collective amnesia are powerful drugs. Also after two years of wage
cucking, punters should have a few sheckles to rub together.
The 2019 chop will be intense, but the markets will claw back to $10,000. That is a very significant psychological barrier. It's a nice round sexy number. $20,000 is the ultimate recovery. However, it took 11 months from $1,000 to $10,000, but less than one month from $10,000 to $20,000 back to $10,000.
Melissa Lee peep this. $10,000 is my number, and I'm stickin' to it."
Unfortunately, Hayes does not elaborate much as to why Bitcoin will rise.
John McAfee is notoriously bullish on Bitcoin. He has claimed last month that Bitcoin will reach $1M by 2020.
"People are waking up to the fact that Bitcoin will be $1,000 000. But when? "Someday". "Maybe 5 years". "WIthin a decade". I'm the only one giving you a hard date: Dec 31st, 2020. "
Wall street investor, Tim Draper is also very bullish on Bitcoin. He reaffirmed his position that Bitcoin will reach $250,00 by 2022 in an interview with Cointelegraph.
Well known finance guru Ronnie Moas had one of the most conservative estimate of the bunch. He claimed on twitter that Bitcoin will reach $28,000 by the end of 2019.
*Disclaimer the author only owns a small amount of ETH (under $500) at the time of writing this article
Written by Jonathan Ganor
Writer & cryptocurrency aficionado