The development of the Bitcoin price is arguably one of the most hotly debated topics. It’s not the opinions are often different and price forecasts are, accordingly, far, here, just rarely. Particularly exciting it is, however, if two Extrema can be combined in a prediction to each other. So in today’s article.The BitMEX CEO Arthur Hayes ventured now on a forecast of the Bitcoin price: The price range is set at 3,000$ to 20,000$. As he comes out, let’s look at now.
Arthur Hayes and BitMEX Trader Crypto Digest
The reason for the current article in yesterday’s edition of the ‘BitMEX Trader Crypto Digest there. This is a kind of magazine that appears in regular intervals (1x month). The author is no one less than the BitMEX CEO Arthur Hayes.This divides in the magazine, usually, his thoughts on the Situation in the crypto market, as well as the General macro-economic Situation. In the current issue, I’ve linked to as a source, is all – how could it be otherwise – the effects of Coronavirus on the global markets and thus, ultimately, the Bitcoin exchange rate.Jump back, we are now about a month. In the last issue of the magazine, which appeared, coincidentally, exactly at 12.03, voice Hayes already on the Bitcoin exchange rate. However, he said the following:
I do not believe that we will once again see the $ 3000. The maximum ‘pain’ is probably between 6,000-7,000 $ per Bitcoin.
Who remembers back to that day, know that only a few hours after this Post, the Bitcoin price plunged into a rapid and unprecedented descent to 3,800 US dollars.Trade on the worlds leading Social Trading platform!Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!
A Bitcoin price of $ 3,000 is possible?
In the current Crypto Digest, Hayes said again about the Bitcoin exchange rate, and the question, whether he believe that we could once again see the $ 3,000. A month later, looks like his opinion is probably a little reflected:after all, in light of the current economic Situation and the further potential turmoil in the stock market, the Bitcoin exchange rate could be in passion pulled. As Hayes said:
Could test the Bitcoin price the $ 3000? – Absolutely. If the SPX (note: the S&P 500) falls in the direction of 2000 points, will get all of the other asset classes also ‘Puke’.
So far, So good. The global uncertainty is still high and there is no consensus on the question of whether the stock markets have already overcome the worst of it. The majority of Economists in countries such as the USA, however, still Far from the Zenith of the crisis arrived, and the unemployment numbers shot up as well in the height. A further decline in stock markets is therefore not unlikely. This negative scenario could, in the short term, therefore, (!) also on the Bitcoin exchange rate impact. We now consider the second side of the coin.
Bitcoin exchange rate of 20,000 USD at the end of the year?
While we would have to adjust in the short term, probably still more losses, the medium – to long-term scenario positive. Firstly, the economic recovery could come faster than some people expect. On the Other hand, the necessary financial and monetary policy in the Form of bond purchases, Quantitative Easing, and possibly ‘corona bonds’ a true catalyst for the Bitcoin exchange rate.Because the monetary policy measures that are currently taken, make it clear that the Keynesian monetary policy of expenditure in the Form of a high state and a more expansionary monetary policy may not be without consequences to continue.And so, the BitMEX CEO Arthur Hayes comes at the end of his contribution to the conclusion:
My goal for the Bitcoin exchange rate at the end of the year remains at $ 20,000.
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