Could the Bear Market Last 18 Months? The CEO of BitMEX Thinks So

Could the Bear Market Last 18 Months? The CEO of BitMEX Thinks So 1

The CEO of popular crypto derivatives exchange BitMEX has stated that he thinks the current bear market could last until spring 2020.Arthur Hayes has been calling for lower prices for most of 2018, but thinks all-time highs could be easily achieved pending significant news events.Arthur Hayes Compares Current Bear Market to That of 2013Arthur Hayes, CEO of BitMEX, has warned the cryptocurrency community to be prepared for another 18 months of the bear market.The founder of the derivatives trading commented on the current market conditions at a Yahoo Finance U.K. event sponsored by The Spectator magazine held in London.Hayes stated that he also expects less volatility over the period and said that conditions could certainly get worse:“We think trading volumes could fall further from where they are now.”He then recounted his former experience in the Bitcoin space. He said he first got involved in 2013 during the boom to $1,300 and saw the following “nuclear bear market”:“Price crashed, volume crashed — very, very difficult to make money.”Hayes is one of a few vocal industry participants who are openly bearish about the Bitcoin market. He previously predicted that Bitcoin would drop to the $3,000 to $5,000 range, but was one regulatory decision away from seeing huge price gains.He has hazarded that it could be an ETF that would reverse the fortunes of the number one cryptocurrency. This could send the price right up to $50,000 before the end of 2018, he believes.Mike Novogratz, a Bitcoin bull, has admitted he thought that Bitcoin would struggle to see substantial gains this year. The Fundstrat CEO had previously said he thought the number one digital asset would “easily” reach $40,000 by the end of 2018. At the start of this this month, Novogratz stated that he no longer held such a bullish outlook and instead believed Bitcoin would struggle to reach over $9,000.Meanwhile, the likes of Tommy Lee has made end of 2018 predictions that are increasingly looking suspect. As recently as September this year, he said he thought $20,000 was still on the cards before the year culminated. RT’s Max Keiser, meanwhile, ominously tweeted that he believes that $28,000 is still in play:$28,000 still in play. #Bitcoin— Max Keiser, tweet artist (@maxkeiser) September 1, 2018
Other commentators on the space believe that the price is less insignificant and the market is just going through familiar patterns. Will Warren, the co-founder of the Ox crypto exchange, commented to Yahoo Finance UK in a phone interview:“Having followed this space since 2011, we’ve seen a number of different cycles where a large number of people start to get interested in the technology and it kind of winds up and then winds downs again… The market is blowing off some steam right now.”Featured image from Shutterstock.

Could the Bear Market Last 18 Months? The CEO of BitMEX Thinks So 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 43,173.00
ethereum
Ethereum (ETH) $ 2,960.67
cardano
Cardano (ADA) $ 2.29
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 357.47
xrp
XRP (XRP) $ 0.949078
solana
Solana (SOL) $ 143.24
polkadot
Polkadot (DOT) $ 30.95
usd-coin
USD Coin (USDC) $ 1.01
dogecoin
Dogecoin (DOGE) $ 0.212846
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 43,173.00
ethereumEthereum (ETH)
$ 2,960.67
tetherTether (USDT)
$ 1.01
bitcoin-cashBitcoin Cash (BCH)
$ 517.67
litecoinLitecoin (LTC)
$ 151.96
bitcoinBitcoin (BTC)
36.851,18
ethereumEthereum (ETH)
2.527,14
tetherTether (USDT)
0,862106
bitcoin-cashBitcoin Cash (BCH)
441,87
litecoinLitecoin (LTC)
129,71
bitcoinBitcoin (BTC)
31,617.75
ethereumEthereum (ETH)
2,168.25
tetherTether (USDT)
0.739674
bitcoin-cashBitcoin Cash (BCH)
379.12
litecoinLitecoin (LTC)
111.29

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin43,096 0.71 % 3.78 % 9.99 %
Ethereum2,973.5 1.21 % 5.75 % 16.79 %
Cardano2.310 0.88 % 2.51 % 4.78 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin358.49 0.77 % 6.44 % 15.64 %
XRP0.9551 1.48 % 4.18 % 12.45 %
Solana142.54 1.03 % 4.89 % 6.19 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.06 % 0.12 %
Dogecoin0.2129 0.41 % 4.82 % 12.26 %

bitcoin
Bitcoin (BTC) $ 43,173.00
ethereum
Ethereum (ETH) $ 2,960.67
cardano
Cardano (ADA) $ 2.29
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 357.47
xrp
XRP (XRP) $ 0.949078
solana
Solana (SOL) $ 143.24
polkadot
Polkadot (DOT) $ 30.95
usd-coin
USD Coin (USDC) $ 1.01
dogecoin
Dogecoin (DOGE) $ 0.212846