$2000 prospective low for bitcoin says Bitmex CEO Arthur Hayes

[bbc.reporter]

I reckon when bitcoin was dumped to go under its floor of $10,000 during that time and then $5000, forum cave troll comments like this from Arthur Hayes would incline to become more believable than Tom Lee's $15,000 by the end of December.

I shake my head for 2019.



Arthur Hayes, the famed chief executive at Hong Kong-based BitMEX, unexpectedly predicted that Bitcoin (BTC) didn’t bottom at $5,800, even while the crypto market’s leading analysts begged to differ.

At the time, Hayes, a former Citibank and Deutsche Bank trader/analyst, claimed that “I think we’ve haven’t seen the worst yet,” before adding that BTC was likely to test $5,000 before truly bottoming. Now, after nearly a week of tumultuous price action, which began on Wednesday morning, BTC has fallen under $5,000 for the first time in 2018.

Hayes first told Yahoo Finance that Bitcoin’s bear market could continue well into 2019, citing his five-year experience trading Bitcoin and altcoins in this nascent market. Following up on this claim, just days later, the BitMEX executive doubled-down on his opinion that crypto’s next bull run is months, if not years away.

Then touching on volatility, Hayes explained that BTC “require volatility” to eventually reclaim its position as the mainstream media’s circus freak, adding that the price fluctuations of bitcoin are the “best and most transparent way” to express the health, performance, and maturation of this industry.

So, seeing that volatility has declined (save for the past week), Hayes noted that prices “will slowly leak lower” to a prospective low of $2,000, a “sweet spot” in the eyes of the BitMEX chief and his analyst team.

Read in full https://ethereumworldnews.com/arthur-hayes-5000-bitcoin-btc-prediction-comes-true/

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[exstasie]

$2000 is definitely within the realm of possibility. But I'm guessing Hayes will be wrong this time, just like he was with his $50,000 prediction. Markets tend to disappoint in both directions.

I'm looking at this uptrend from 2016 for a possible bottom:



As an alternative, we have the 200-week MA standing at $3,130 and rising.

[davis196]

This is not a prediction,it's a wish.
I believe that Hayes wants really cheap bitcoins,most of the crypto whales want really cheap bitcoins,because the time for a big btc price pump is kinda over(no hype amongst the noobs,no enthusiasm),hence bigger profits from short positions and BTC futures trading.
 

[BrewMaster]

it is funny to see how everyone is quickly changing their statements these days to still remain on top of the news sites and make their name and their business name heard by just guessing a random number based on the trend they see!

in any case none of this is normal so coming up with numbers is only proving their lack of understanding of the market. drawing lines on the chart, looking at previous trends,... are all meaningless at this point.
the drop is manipulation and dumping pressure by outside forces not the market itself. and we have no way of knowing how strong they are going to be and how much panic we can expect hence we can not predict the bottom of the current drop.

[OgNasty]

$3,400 & $1,900 appear to be the next 2 major support levels now that $4,800 has broken. I would expect the bottom to be one of those 2 numbers. I also don’t think it will jump overnight, so slowly accumulating over the next year is probably the smart way to play this.

[hatshepsut93]

We are in free-fall now, and it usually ends with a quick jump back, so judging by how we seem to stabilize around $4400, we'll probably go to $4,800-5,000 very soon. But then we'll have another crash similar to this, because there's no sign that the bear market would end anytime soon, we haven't even reached the bottom most likely. $2,000 doesn't sound realistic to me, but $3,500 might happen, maybe for a moment though.

[dothebeats]

Well as of now, it seems that we have found a good support in $4100-$4200 ranges, though we have seen the similar walls placed in $5500 and $4800 that didn't last so I wouldn't really put my hopes up that it could last that long. I'm still positive that we wouldn't see the realms of $2000 ever again simply due to the fact that a strong support @ $3100 is already in place (though hopefully no one would pull that out immediately). It'll take a while for an awaited rebound and a slow accumulation phase is lovely at this market condition.

[fabiorem]

We are below $4888.

Its three-digits now.

Craig is a psychopath. I just imagine how many are commiting suicide, because of his actions.

How many families destroyed, fathers without money for Christmas, old people who wanted the money for treatment, etc.

I just imagine those poor people in Venezuela, who were fucked up by communism, trying to buy food with bitcoin.

These guys from the bcash camp dont have any conscience of their actions.

[cybersofts]

No worries guys, the way i see it this is just another opportunity for us to buy cheap bitcoins. I never expect to see bitcoin price going below $5000 yet seeing it is like a dream to me. I think the few days from now the bitcoin price will hit the bottom low so be ready to stack more.

[cryptocrusher]

If we look at true support levels, drawn out from past levels then $4500 was the first one, that's about where we are now. If that doesn't hold then it's down to $3000. I did believe that $5800 was the bottom because I don't always trust in TA being correct but TA would've shown 4500 being tested at some point which it is now. If you form a triangle with the previous bottoms then the price shouldn't move much beyond the current level but in times like these logic goes out of the window. Especially when the market is crashing so hard with no reasonable explanation behind it. The most common one I've seen banded around is that projects are cashing out the funds that they raised but in theory that shouldn't hit most coins as hard as they have been hit, only BTC and ETH should be the major losers.

[luca1073]

Craigh is a psychopath. I just imagine how many are commiting suicide, because of his actions.


These guys from the bcash camp dont have any conscience of their actions.

and there are people who believe that craig wright is satoshi...i can't believe that the humble, savvy, helpful and technical genius who founded this forum is that megalomaniac. Him and roger ver are a disgrace! some people even think craig (by being satoshi) will dump his btc on the market soon because he said in a youtube video that "btc was dead long time ago after they came up with segwit". the guy is a scam

[hahay]

Hayes first told Yahoo Finance that Bitcoin’s bear market could continue well into 2019, citing his five-year experience trading Bitcoin and altcoins in this nascent market.

If the bear market continues until 2019 then there seems to be no value above $2000 in the future. I'm worried about the fall of the market this time because of the many investors who left who have sold all their assets in crypto. There are many articles that discuss the fall in the price of bitcoin, which of course will make many people panic, including me, do not know which one is really telling the truth or just FUD. Then, whether the bull run will still happen in the future if bitcoin has lost a lot of investors..

[Slow death]

This is the subject of the moment

Markets Panic: Bitcoin Hits Lowest Since October 2017 as Bitcoin Cash Drops 40 Percent

https://twitter.com/officialmcafee/status/1064767815431798784



Now imagine if John and many other people read this thread? I see only the panic increasing, because the heck whenever prices fall people tend to make more pessimistic predictions? when the price goes up a lot people rush to make optimistic and exaggerated forecasts, this is the problem of the crypto world, we are always being very exaggerated.

[el kaka22]

There is literally no bottom if you look at it from a sellers point of view.

The potential is that bitcoin could lose all its value and one day everyone would decide to sell their coins for a weird reason we can't think right now and the price could go down as much as 2 thousand dollars and there would be nothing we can do to stop that. However the common logic says two things, first of all even at a 13-14 month low at 4.5 thousand dollars we are still waaay above the 2 thousand dollar mark and there would need to be a lot of money sold right now in order to make that 2 thousand dollar real.

But, lets assume that 2 thousand dollar will happen and someone will sell that much bitcoin, the trouble here is that the lower the price goes the higher the demand goes as well and the price barely stays anywhere near 4 thousand right now and would need to sell hundreds of thousands of bitcoin to reach that level.

[gentlemand]

Craigh is a psychopath. I just imagine how many are commiting suicide, because of his actions.

How many families destroyed, fathers without money for Christmas, old people who wanted the money for treatment, etc.

I just imagine those poor people in Venezuela, who were fucked up by communism, trying to buy food with bitcoin.

These guys from the bcash camp dont have any conscience of their actions.

No one said it was going to be easy and the process of crypto's birth is going to be messy and bloody. Everyone should've made themselves aware of the possibilities.

It'll be fun if Bitmex drives the price to zero since the nutters who populate it only get paid out in BTC too. That would teach them to put two and two together finally.

[Rune]

it is funny to see how everyone is quickly changing their statements these days to still remain on top of the news sites and make their name and their business name heard by just guessing a random number based on the trend they see!

in any case none of this is normal so coming up with numbers is only proving their lack of understanding of the market. drawing lines on the chart, looking at previous trends,... are all meaningless at this point.
the drop is manipulation and dumping pressure by outside forces not the market itself. and we have no way of knowing how strong they are going to be and how much panic we can expect hence we can not predict the bottom of the current drop.

Yup this guy knows exactly whats up there is no way to really predict the bottom all you can do is HOLD your BTC and ALTs and have some FIAT ready to buy every new lower level of stability we get to and hope you buy enough cheap BTC before we go back up.

[LeGaulois]

$3,400 & $1,900 appear to be the next 2 major support levels now that $4,800 has broken. I would expect the bottom to be one of those 2 numbers. I also don’t think it will jump overnight, so slowly accumulating over the next year is probably the smart way to play this.

This is still a phenomenal slap in the Bitcoin' face. I just hope @BrewMaster is right. 2018 has been a f**king year so far lol. If it's really all about manipulation I have to say it's a nice one, good job to whoever is concerned. Now the question is what's next for the following year? A better or a Worst? Perhaps not like before but we can still hope for a "more natural growth"

[1Referee]

If it's really all about manipulation I have to say it's a nice one, good job to whoever is concerned. Now the question is what's next for the following year? A better or a Worst? Perhaps not like before but we can still hope for a "more natural growth"

It's always easy to blame manipulation, but the main selling source is actual panic from average joes. If it's manipulation, they just have to complement the selling on levels people think the price is safe, but I doubt that's happening. Why spend money dumping the market down while average joes are doing it for you, and for free?

It makes a nice story though, if it was actual manipulation from institutions; dumping the price down so Bakkt can shove their coin backed futures contracts in people's throats. The story would be complete with an ETF approval. 

$4000 touched so it's going to be interesting to see where it goes from here.

[hugeblack]

Well as of now, it seems that we have found a good support in $4100-$4200 ranges,

I still believe that we will settle at $ 4200. I have no convincing reason for this figure, but it is the starting point when BCH  first appeared.
I thought that the chaos caused by BCH fork caused this collapse, but it seems bigger than it "after seeing the daily trading volume."
We have a trading volume of $ 141,690,320 "also Bitcoin ABC removed from Coinmarrketcap" as it is one of the biggest losers, things seem to be going for more lower values.

[gentlemand]

I still believe that we will settle at $ 4200. I have no convincing reason for this figure, but it is the starting point when BCH  first appeared.

I hope you're not betting large amounts on that. Feels like it's only getting warmed up to me. Of course it'll get back there eventually but it might be a long time. It's pointless comparing now to August 2017. A shit ton has changed in every sense.