While bitcoin critics are busy predicting the fall of king bitcoin, BitMEX bitcoin derivatives exchange shares none of such bearish views as the co-founder and CEO of the firm, Arthur Hayes has declared that he clearly sees the price of bitcoin at the $50,000 price region by the end of 2018.
The CEO’s prediction is in line with that of Fundstrat analyst Tom Lee who said a few days ago that the ongoing Consensus 2018 conference could push the price of bitcoin and other cryptocurrencies to an all-time high as this year’s event is expected to attract at least 7,000 crypto enthusiasts and investors from all over the globe.
It is worth noting that since the first Consensus event three years ago, it has never failed to trigger bitcoin price gains of from 10 to 70 percent even though the attendance has never been up to 7000.
“Already one of the largest crypto conferences in the world, attendance this year is up dramatically and coming at a time when Bitcoin/Crypto is down YTD. Hence, we expect the Consensus rally to be even larger than past years,” he wrote.
Back in January when the entire crypto markets were going through a significant bearish period, Hayes wasn’t bothered about the market situation at all though he noted that “it’s his job to make predictions” not minding whether they materialise. He also made it clear that he loves the volatile nature of the digital currency space adding that he’s always in profit no matter what direction the markets decide to follow
“If it goes up, if it goes down, if you have Bill Gates calling it a fraud… Short it, I don’t care. If you think it’s going to be $1 million in a few months, great, buy it. I still don’t care. We just match trades,” he pointed.
BitMEX is focused on servicing the needs of retail investors; however, it has quite a vast array of advanced features that most platforms meant for institutional investors have including derivatives, margin trading and leverage of up to 100x.
Lamborghinis are the signature rides of crypto big whales. Hayes, being one himself is not oblivious to this fact. The expert hodler hinted on his Twitter handle earlier on that he could appear at the Consensus, riding a Lambo. Although several of the supercars were parked at the event venue on May 14, none of them was his.