CEO of the Bitmex exchange, Arthur Hayes, is convinced that the price of bitcoin can reach 50 000 dollars by the end of 2018 but emphasizes that the figure itself is of little interest.
— CNBC’s Fast Money (@CNBCFastMoney) May 14, 2018
“If the price rises or falls, if Bill Gates calls bitcoin fraud … you can open the shorts, please. It does not bother me at all. If you think that the price will reach $1 million in a few months, buy. I also do not care. We just provide the possibility of trading, “said Hayes, a former trader at Citigroup.
He added that the cryptocurrency industry is a “retail phenomenon”, as the involvement of institutional investors in the sector is extremely weak.
Moreover, in his opinion, two-thirds of the trades on the cryptocurrency market are provided by the Asian region.