Arthur Hayes Of BITMEX Says Bitcoin Will Test $10,000 in 2019
Co-founder and CEO of cryptocurrency trading platform BitMEX, Arthur Hayes, has predicted that Bitcoin (BTC) will climb to the $10,000 price point this year.
According to Hayes, the market recovery will begin in early fourth quarter of 2019. Hayes said:
“The 2019 chop will be intense, but the markets will claw back to $10,000. That is a very significant psychological barrier. […] $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.”
In January, BitMex published research revealing that the combined value of all the tokens that the analyzed projects had allocated to their own teams went down from $24.2 billion at the time of each individual token’s issuance to about $5 billion.
According to BitMEX, the 2018 crypto bear market accounted for 54 percent of the losses, along with $1.5 billion worth of transfers to external addresses and other factors that brought projects’ holdings down even further.