BTC Bear Market Still Has 18 More Months, Arthur Hayes Reveals

[Goodcat49]

Bitcoin (BTC) prices and trading volume might remain diving, and the latest bear market could continue for more one year and a half. That’s a realistic assessment of Arthur Hayes, CEO BitMEX, the global’s biggest BTC trading platform.

“My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness,” Hayes told Coinidol. “I’m just basing it off my previous experience.”

Arthur began trading Bitcoin full-time in the year 2013 when he lost his job as an equities trader at Citibank. He revealed that the current trading patterns are similar to those of the "nuclear bear market" he saw in 2014.

“I started in bitcoin in 2013, when the price went from $250 to $1,300,” Hayes recounted. “And then 2014 to 2015 was sort of the nuclear bear market. Price crashed, volume crashed — very, very difficult to make money.”

Arthur Set $50,000 Bitcoin Price Target in June
Crypto trading volumes lately dropped to a new annual low after the summer decline. Arthur revealed volume could decline deeply in the months to come.

This is amazing about-face from the profuse $50,000 year-end BTC price target Arthur set in the month of June this year.

He noted Bitcoin prices were only one significant regulatory decision away from accelerating over $20,000 to $50,000 by December this year, which doesn't seem achievable given the present market situations.

Slump is Temporary   
Jonathan Levi, CEO of Hacera, noted:   

“The price of bitcoin is undoubtedly in a bear market, but in the application of bitcoin and other blockchain projects we are in fact in a bull market,” Levi said. “Most of the EU banks are actively investing in blockchain, and that all originally stems from bitcoin.”   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/btc-bear-market-still-has-18-more-months/