BitMEX CEO: Ethereum 'Will Instantly Test $200' When ICO Market Returns - BITCOIN NET MAGZ

BitMEX CEO: Ethereum 'Will Instantly Test $200' When ICO Market Returns

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BitMEX CEO: Ethereum'Will Instantly Test $200' When ICO Market Returns

BitMEX is a Hong Kong-established cryptocurrency trading platform which has become one of the largest trading platforms in the world by volume.

Speaking in an exclusive interview, Hayes forecast a return to form for 2018's"deceased" ICO markets.

"The usage case for Ether is mostly ICOs. That market is dead right now," he explained, including:

"When there are new issues, then Ether will rally aggressively. After the ICO economy returns, Ether will immediately examine $200. The timing of this ICO rebirth continues to be 12 to 18 months "

Hayes made the comments following a now rare day in equilibrium round cryptocurrency markets, together with ETH/USD stays array jumped within 1 percent of $129 following doubling in a week.

One of the highest performers in the brief term, the once-largest altcoin has observed declines of over 90 percent in 2018.

In the coming 12-18 months, nevertheless, Hayes first predicts stablecoins will have their time in the limelight prior to an ICO resurgence.

"Security tokens and stablecoins will establish appealing sirens for investors in 2019," he continued, noting:

"Even though their fundamental raison d'etre is flawed, investors in this period of pain will latch onto anything they think will be their ticket to easy riches." 

He did not elaborate on whether that market will implode like that of the 2017 ICO boom.

For Bitcoin (BTC), Hayes proposed a fairly modest trading corridor for second season -- between $1,000 and $10,000. Some sources have argued institutional investors engaging in Bitcoin through new financial tools will take the cost much greater.

Last week, Justin Sun, CEO of decentralized application (D App) growth stage TRON (TRX), maintained ETH was"slowly imploding."

 

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