BitMEX CEO: Ethereum ‘Will Quickly Test $200’ When ICO Market Returns

[Lmaooo]

Initial coin offerings (ICO) will return within “18 months” and Ethereum (ETH) will “rebound aggressively,” BitMEX CEO Arthur Hayes told Cointelegraph Japan Dec. 26.

BitMEX is a Hong Kong-based cryptocurrency trading platform that 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 “dead” ICO markets.

“The use case for Ether is primarily ICOs. That market is dead right now,” he said, adding:

    “Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out.”

Hayes made the comments following a now rare day of stability across cryptocurrency markets, with ETH/USD staying range bound within 1 percent of $129 after doubling in a week.

One of the top performers in the short term, the once-largest altcoin has seen losses of over 90 percent in 2018.

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

“Security tokens and stablecoins will prove attractive sirens for investors in 2019,” he continued, noting:

    “While their fundamental raison d'etre is flawed, investors in this time of pain will latch onto anything they believe 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 suggested a fairly small trading corridor for next year — between $1,000 and $10,000. Some sources have argued institutional investors engaging in Bitcoin through new financial instruments will take the price much higher.

Last weekend, Justin Sun, CEO of decentralized application (DApp) development platform TRON (TRX), claimed ETH was “slowly imploding.”

CT | https://cointelegraph.com/news/bitmex-ceo-ethereum-will-quickly-test-200-when-ico-market-returns

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[ruli stylon]

Ethereum increase in the low period in the waiting period by all Ethereum holders. In how many weeks or when Ethereum will rise to 200 $? I hope this news has a positive impact for the price of Ethereum in 2019.

[AB de Royse777]

only 200 dollars? maybe he doesn’t know that soon there will be the Constantinople and this will definitely raise the price of Ethereum above $ 200

In my opinion, hitting $200 is a matter of time. Let the Bitcoin price to settle then all the other coins will find their way. I am even looking forward for ETH to hit $1200 again.

Looking at the volatility of crypto this can happen anytime.

[10BTCaDay]

only 200 dollars? maybe he doesn’t know that soon there will be the Constantinople and this will definitely raise the price of Ethereum above $ 200

In my opinion, hitting $200 is a matter of time. Let the Bitcoin price to settle then all the other coins will find their way. I am even looking forward for ETH to hit $1200 again.

Looking at the volatility of crypto this can happen anytime.

This is definitely not going to happen until the end of 2019. Volatility is not so high right now and the bear market is very strong

[jt byte]

BitMex CEO again is predicting the price of Ethereum? Last time he was right, he said that Ethereum is shi**oin and soon will be under 100$, and that really happened.
But what he does mean by ICO market return?

[plr]

It's these experts predictions that investors are losing money, who would have thought all coins will be down to this prices, only few people predicted that there will be a very long bear market, right now we must only trust those who can give us accurate predictions.

[Omela44]

Always this whole predictions. I am tired that everyone thinks they have to predict prices. Usually the predictions are not correct and the market is developing as he wants and usually not as predicted. That is why i ignore meanwhile predictions.

[v_i_p]

only 200 dollars? maybe he doesn’t know that soon there will be the Constantinople and this will definitely raise the price of Ethereum above $ 200

This person usually gives quite pessimistic forecasts, so I hope that it will cost significantly more.

[poktur]

I think Ethereum will show more interesting prices than he did, because soon we are waiting for the update and I am sure that this will give a more favourable result!

[kolesozw]

I'm much more interested on the BTC-ETH correlation. In one of his last interviews he said that Bitcoin bear market will continue in 2019 and we could expect Bitcoin @ $2000. Then $200 Ether would mean 0.1BTC price again... I highly doubt to see it soon.

Anyway, I also hope to see the ICO marker reborn in 2019. Maybe after the summer break?

[ukloon]

There will be other platforms that ICOs can choose so ethereum may not be the platform of choice. Also, the SEC are giving ICOs a hard time so we may not see the pump that we have seen in the past as there will be less ICOs now

[Whosdaddy]

Ethereum is already testing out 200 dollars while we are in a bear market. I mean prices of bitcoin has dropped from the 4.2k levels yet here we are ethereum is doing great. I think if ICO returns ethereum will definitely go as high as 300 even 400 dollars easily. There will be a flock of people trying to buy ethereum in order to fund the ICO they want to participate and those ICO will not get the money right away but even when they do they will try to pay their expenses as Ethereum without cashing out as much as possible.

This is just a weird result of bear market in crypto that ethereum ever went under 100 dollars, it definitely doesn't deserve those numbers. 200 is not something we should be happy about, we should be looking to reach 500 dollars at least, thats what ethereum really deserves right now. A lot more in the future of course.

[spike420211]

All coins will grow if the ICO market returns, because long-awaited investors will return to the market with their large capital. Until then, we will earn on market dynamics.

[jacafbiz]

I don't like what this guy is doing, he is using his exchange and influence in he space to kill the market at large, the shorting of Ether cause the price collapse to the extent that some miners started shorting it. For me I believe by now developers won't be stupid enough to raise money from the space and fail to convert it to Fiat

[Argoo]

only 200 dollars? maybe he doesn’t know that soon there will be the Constantinople and this will definitely raise the price of Ethereum above $ 200

If the ICO's activities next year begin to be massively regulated by states, this may speed up the period of increasing their popularity and ultimately should lead to a sharp increase in the price of ethereum. Also, the price of ethereum should increase after the introduction of expected improvements in the next month.
I am also interested in the question of how tomorrow's possible merger of Bitcoin and ethereum will affect the formation of a bithereum coin. Link: https://bithereum.network. If such a coin appears, it can make a significant adjustment to the prices of Bitcoin and ethereum.

[DenysM]

In his past predictions, he turned out to be right, and ETH really fell below $ 100. I think that the prices of all coins depend on the behavior of Bitcoin and if BTC shows growth, then the whole market will turn around and eth will very quickly overcome $ 200.

[owlman]

Perhaps he is right, and perhaps not. I no longer pay attention to various forecasts, whether it is an expert, the director of the exchange or someone else, because it is impossible to predict the future and the price of a certain coin. I hope that the market of ICO projects will be restored as soon as possible and the price of ETH will grow.

[boolog]

*    “Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out.”
*

At the moment i am skeptical about such statements. So far, i see no sign that the ico market comes back. It will certainly be very difficult for icos to regain the investors trust.

[bigcash2011]

Although im positive that Eth will surprise us all with its bullish trend in the first few months of the new year but the recent dip has been a turn off i was quite sure that eth will become uni directional now for atleast few weeks i hope this dip will be just a correction and the up trend will continue.

[CaMeRoNy]

I think that Ethereum will be able to break the resistance line of $ 200 faster. Only the output of Constantinople will be able to make Ethereum grow to $ 200, and if the ICO market revives, the Ethereum will grow faster.