Crypto

"I still believe Bitcoin will be $ 50,000 by year's end"

BitMEX's CEO, Arthur Hayes, joined CNBC's live broadcast and predicted Bitcoin would reach 50,000 dollars by the end of the year.

Hayes graduated from the Wharton School of Business and was renowned for his ability to trade traditional financial instruments. Shortly after graduating, he moved to Hong Kong and became a high-level trader at Citigroup and Deutsche Bank.

Moving from traditional assets to digital assets, Hayes is the active CEO of BitMEX, one of the world's largest Bitcoin trading platforms.

Hayes, who answered Melissa Lee's questions on the Fast Money program on CNBC's screens, clarified Bitcoin's optimism about the future value.

After January when prices fell sharply, when asked whether the forecast had changed, "Yoo no. It's my job to guess. Whether right or wrong, it does not matter to me. "He said he still believes he will be worth $ 50,000 by the end of 2018.

Hayes made this prediction when Bitcoin had not yet seen 20,000 dollars at the beginning of December. Hayes said that day, "I think the high volatility is positively reflected in Bitcoin. Because more news is being produced and this news attracts more people. Bitcoin is actually a speculative entity. Anyone who claims that investing in Bitcoin is not risky is deceiving himself. We speak of an asset that surpasses $ 200 billion in a short period of time, from no one to ten years. I advise everyone investing in Bitcoin not to make more money than they can afford to lose. Any asset class that has more than 10 to 20 percent volatility per day must be traded. I think Bitcoin will reach $ 50,000 in 2018.

Hayes, meanwhile, came to the attention of the world's largest crypto money and blockchain event, Consensus 2018, which started on Monday, with an orange Lamborghini Huracan. [19659008] Did you see my ride today at # Consensus2018 ? pic.twitter.com/qGznsNMgWo

– Arthur Hayes (@CryptoHayes) 14 May 2018