Arthur Hayes’ – $5,000 Bitcoin Forecast can Become a Reality

$5,000 Bitcoin Forecast

Bitcoin forecast is being made frequently and many do not come true. Nonetheless, with the decline in the crypto market, some have begun to believe that Arthur Hayes’ $5,000 bitcoin forecast can become a reality.

From $5k to $50k – Arthur Hayes’ Extreme Bitcoin Forecast

Arthur Hayes, the CEO of the most popular trading platform BitMEX  and a passionate crypto advocate, did not abandon his prediction for the Bitcoin price in late 2018, claiming that Bitcoin will reach $50,000. As we said earlier, he pointed to the potential for a positive regulatory decision that could bring the price of the key digital asset to over $50,000.

“Well, I think something that goes up to $20,000 in one year can have a correction to about $ 6,000. I think we can find a bottom in the range of $3,000 to $5,000, but we have removed a positive regulatory decision, perhaps a SEC-approved ETF, to climb $20,000 and even $50,000 by the end of 2018 “.

Fundstrat’s Tom Lee predicts a new high of $25,000 and also stresses that Bitcoin needs only  ten days to reach new highs. Hayes sees this in a similar way, stressing that the period for strong price movements will be shortened.

“In the years 2013 to 2015, we went from $1,200 to $200. In the years 2015 to 2017 we reached to $200 to $20,000. Well, we’ve already seen this kind of movement. I think the timescale will be shorter because there are many more people in the market who have invested in capital and resources to trade this asset class. “

Could his prediction actually occur?

After the expected delay of the SEC for the VanECK and the SolidX Bitcoin ETF , the market started to fall, falling from a high for the month of $8,500 to a low of $6,000. Some investors now suspect that the first part of his prediction could now occur. First, Bitcoin must test $5,800 support, which has become an important support line in earlier downtrends.

However, if Bitcoin falls below $5,800, some fear that this will be the point of no return. Jeff DeGraaf, a technical analyst at Renaissance Macro Research, has recently revealed that Bitcoin could be “permanently impacted” or put into a “game over” phase if BTC moves below $5,800.

In Hayes’ second mention of $ 50,000, the CEO pointed out that the catalyst for such a move would be a positive regulatory decision. But now, some investors and traders expect that such a level in 2018 cannot be achieved, since the decision to the VanEck Bitcoin ETF will most likely be postponed to February 2019.

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