Prepare for Brutal Bitcoin Low and All-Time High in 2019, Says BitMEX CEO Arthur Hayes

12 December 2019, Thursday, 12:00 - dailyhodl.com
Prepare for Brutal Bitcoin Low and All-Time High in 2019, Says BitMEX CEO Arthur Hayes

BitMEX CEO Arthur Hayes says Bitcoin may trade in a wide range next year.

The cryptocurrency exchange’s co-founder tells Cointelegraph Japan he thinks Bitcoin may sink as low as $3,000 and rise as high as $20,000 in 2020 – depending on BTC miners and the performance of fiat.

According to Hayes, BTC could return to its all-time high if inflation rates rise and Bitcoin’s status as a store of value is maintained.

Alternatively, Hayes says the bottom of the potential Bitcoin price range next year is the break-even point for miners. If the currency “returns to bearish territory,” it could see lows of $3,000, he argues.

Hayes also says he thinks Facebook’s Libra is a positive development for BTC in the long run, saying the upcoming stablecoin “may become a gateway to real cryptocurrencies like Bitcoin.”

It’s not the first time Hayes has predicted a high of $20,000. In September, the CEO said Bitcoin would be “two-steppin’ straight to $20K.”

— Arthur Hayes (@CryptoHayes) September 3, 2019

In September, Hayes said that in the long run, he believes cash will disappear altogether, leading to a new digital age for money that gives Bitcoin the potential to reach $50,000 and beyond.



Read Also

$113,000,000,000 in Bitcoin (BTC) Locked by ‘Crazy’ Holders Who Refuse to Let Go

$113,000,000,000 in Bitcoin (BTC) Locked by ‘Crazy’ Holders Who Refuse to Let Go

Bitcoin Is a ‘Super Commodity’ That Should Be Worth $1-10 Million, Says Kraken Executive Dan Held

Elon Musk’s Tesla Starting to Feel Like Bitcoin Mania of 2017, Says Mike Novogratz