Arthur Hayes, CEO of Bittex, the world’s largest derivatives trading platform, thinks that the current crypto bear market can last another 18 months.
BitMEX CEO Arthur Hayes: “the current volatility environment may last 12-18 months.”
Bitcoin rose to $ 20,000 in December of last year. However, it fell in early 2018 and traded in a narrow range close to $ 6,300 over the past few months. If this performance continues, 2018 will be the worst year for Bitcoin in terms of the percentage of decline. Arthur Hayes, CEO of bittex, said::
My opinion is that the current volatility environment may last 12-18 months. I’m just based on my previous experience. I started Bitcoin in 2013, when the price went up from $ 250 to $ 1,300. Then there was a kind of nuclear bear market from 2014 to 2015. The price has fallen, the volume has fallen. It was hard to make money.
“We think that trade volumes may fall further.”
Hayes, a former Deutsche Bank and Citi trader, founded Bittex in 2014. The platform that is registered in Seychelles enables people to buy and sell derivatives of Inter-wife Bitcoin such as futures. Hayes added that he believes conditions can get worse. Hayes says::
We think that trade volumes may fall more than they are now.
Will Warren: “I believe Bitcoin Will be adopted more.”
Hayes, while alarm for bitcoin, other analysts and experts in the industry were more optimistic about the price. Will Warren, founder of the non-centralized crypto currency exchange, says::
When we watched this area since 2011, we have seen that a lot of people are beginning to be interested in technology. The market is picking up a bit right now. I think the market is going through a healthy consolidation, but looking at the long-term trend, I believe that Bitcoin and similar technologies will be adopted more.
Mati Greenspan: “a potential rally in Bitcoin is coming soon.”
Mati Greenspan, eToro’s senior market analyst, says a potential rally in Bitcoin may be imminent and Bitcoin’s stagnation may be over. Greenspan adds to his comments::
It’s just a matter of time. Of course, the straight line pattern can go on for a few more months, and that’s not going to be a bad thing. But there are signs of excitement that boil under the calm price movement. This is a classic indication that we are approaching the end of the horizontal cycle.
Jonathan Levi: “there are developments that show that we are actually in a bull market.”
Jonathan Levi, CEO of Hacera, said::
Bitcoin’s price is undoubtedly on a bear market, but there are developments that show that we are actually in a bull market. Most EU banks actively invest in blockchain, and all of this is actually Bitcoin.