The CEO and co-founder of cryptocurrency trading platform BitMEX, Arthur Hayes makes a bullish prediction about Bitcoin (BTC), that the foremost cryptocurrency will regain its $10,000 price point this year
According to a newsletter published on March 22, Hayes asserts that the market recovery will finally begin the early fourth quarter of 2019. He stated:
“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.”
BitMEX’s research arm reported earlier this month that its Ethereum Parity full node contained a “potential bug,” revealing that reporting that the Parity node “sometimes reports that it is in sync, despite being several hundred thousand blocks behind the chain tip.” The report authors claimed that the said bug could be exploited by an attacker in some circumstances, but states it is “highly unlikely” to happen.
In January, BitMex published research that unveiled the combined value of all the tokens, 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. In the report, BitMEX stated that 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.
Image Credit – Arthur Hayes Twitter