Arthur Hayes, the young CEO of BitMEX, has argued that he has not seen the worst yet, considering he did after the rise in Bitcoin.
Leveraged crypto money market, BitMEX CEO Arthur Hayes spoke to CNBC about Bitcoin's latest rise.
Hayes reiterated that Bitcoin predicted to reach $ 50,000 by the end of the year just a few weeks ago, but said number one crypto money has not reached the bottom yet.
Hayes said, "I do not think we actually saw the worst. " said.
The CEO also said that before the price goes down again, it could reach a little below 8,000, 9,000 and maybe even $ 10,000, and said, "I want to see that we test 5000 to really understand if we have reached a bottom."
Bitcoin's climbing above 7500 last month was a good news for Bitcoin enthusiasts. Nevertheless, it is still considerably behind the peak level.
Hayes once again reckons the $ 50,000 price estimate and "The current rally will reach a summit but it will not be more than 10,000. Then we will regress and test 5000. By the end of the year, we can go for $ 50,000. "
Hayes said later that "Market watchers should expect more volatility in the area of cryptographic money. Because I think the investors during the summer months are pulling a little to their corner. But they will be back in the third and fourth quarters of the year and the party will start again. "
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