The latest cryptocurrency news put the CEO of BitMEX, Arthur Hayes in the focus for his latest prediction regarding the price of Bitcoin (BTC). Knowing that Hayes was not the biggest Bitcoin bull in the room in the past, this statement of his is interesting especially because it puts BTC in the higher grounds.
According to Hayes, Bitcoin could reach at least $50,000 in the next two-to-five years. Clearly, the Bitcoin price has had the wind at its back in 2019 which stirred up the community and made it quick to forgive the calls during the struggling crypto winter.
The previous forecasts by the BitMEX CEO were quite safe in the past – as featured on many best cryptocurrency news sites. Hayes said that Bitcoin (BTC) could reach $10,000 by year-end 2019 before this – and hasn’t even mentioned the $50k price target altogether.
However, in his newest roundup which is featured on the Venture Capitalist with Luke Martin, Hayes said:
“It could go materially higher if the world plays out the way I think it’s gonna play out.”
It is really fascinating how Hayes came about his bullish BTC price prediction of $50,000. However, if we see the bigger picture, we will see that his prediction is in a tight link with the financial system in which the U.S. Federal Reserve is once again printing money which has created a bit of “silliness” in the financial markets.
To cover his base, Hayes also said that there is a possibility that Bitcoin (BTC) retests $2,000 to $3,000 from the current level – before shooting up to $10,000 in an easy surge by year-end 2019. He has also thrown out the $20,000 price level.
Bitcoin, in the meantime, is competing with a robust pipeline of tech IPOs which include Lyft which has fallen flat – as well as the ones of Uber and Pinterest. All of these are big opportunities on the table which could put crypto on investors’ back burner until later in the year.
“That’s when I think we can really see some gains rack up in this market. And that’s where I really see the value proposition for bitcoin finally clicking in everyone’s head,” Hayes concluded.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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