BitMEX CEO Comments On Bitcoin Price Predictions, Forecasted $5K In August Now Says $2,000 Is Next

BitMEX CEO Comments On Bitcoin

BitMEX’s CEO Arthur Hayes has a tendency to be outspoken, especially when it comes to bitcoin. In relation to bitcoin, he has made several predictions concerning the price and market cap. A recent prediction that has received a great deal of attention is that the cryptocurrency will bottom to $5,000.

Many seem to be skeptical about the price, especially due to the fluctuations that have ranged from a high of $20,000 to a low of $5,250. BitMex’s CEO is essentially saying that bitcoin has not hit bottom yet. The truly optimistic individuals see the price reaching $50,000 – but that may be a stretch.

Another contender concerning bitcoin’s price – John McAfee, believes that Bitcoin will reach anywhere from $250,000 to $1 million per coin. McAfee was confident in his prediction and as a result, he stated that he will consume his nether-parts if his prediction failed to pan out. In a recent interview on CNBC’s Fast Money, McAfee stated to the show’s host Melissa Lee that investors have yet to see the worse and that he is interested in seeing Bitcoin “test 5,000 to really see if we put a bottom in.”

The big question that arises is – who is right? At this point, it is impossible to say. Hayes is confident that he has accurately predicted bitcoin’s value, recently stating that his new “sweet spot” is a value of $2,000 to $3,000. He also believes that the current bear market may continue for another year to 18 months. Hayes’s assessment is based upon bitcoin’s recent price and its moving average. Hayes stated, that having “lived through the 2014-2015 bear market” he anticipates a “nasty #@$ candle that breaks the soul of the bulls.”

At this point, only time will tell where bitcoin’s value will reach – or dip to.

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