The bitcoin price is holding at the $5,100 level, which is drowning out the bearish voices.
BitMEX CEO Arthur Hayes isn’t always the biggest bitcoin bull in the room, but he’s coming around. Hayes predicts the bitcoin price could reach at least $50,000 in the next two-to-five years. Clearly, the bitcoin price has had the wind at its back in 2019, which made the crypto community quick to forgive the wrong calls during crypto winter.
If that price sounds familiar, it’s because Hayes forecast that was where BTC was headed in last year, which he probably came to regret. Since then, he’s played it safe, as evidenced by his short-term bitcoin price outlook of $10,000 by year-end 2019. It’s a relief to hear that he hasn’t abandoned his $50K price target altogether and has just pushed it back by a few years. Hayes was featured on the Venture Coinist podcast with Luke Martin where he added:
“It could go materially higher if the world plays out the way I think it’s gonna play out.”