Bitcoin could reach 20k according to BitMEX CEO
Arthur Hayes, co-founder and CEO of the BitMEX cryptocurrency trading platform, said today through a tweet that the price of Bitcoin will reach 20K, suggesting that the community “be prepared.”
More experts remain optimistic about the price of Bitcoin and more altcoins as well.
The encryption market has been extremely volatile, but such a thing was not enough to stop optimistic predictions about the price of BTC to pour into the encryption space. However, now, we see another positive encryption prediction.
Hayes brought with it a new prediction about the price of Bitcoin, saying it believes it is now on track to double its value.
Now, according to the tweet, Bitcoin could soon reach USD 20,000 as a result of the emergency measures of the Federal Reserve of the United States, also known as The Fed, so precisely one of the largest companies in the United States has said industry.
The Federal Reserve echoes the 2008 crisis, the CEO of derivatives giant BitMEX, predicted that the new quantitative expansion (QE) would further diminish faith in the fiat currency.
The comments come one day after the Federal Reserve lowered the interest rates of some loans that reached more than 10%, or four times its target. More than USD 53,000 million were injected into the economy.
Prior to the crisis, the Fed relied on two types of open market operations to manage financing markets and their balance sheet: First, temporary repository or reverse repo operations and second USD direct purchases.
Repos operations were used to “adjust” the amount of reserves in the banking system to reach the target rate of federal funds, while direct USD purchases were used to offset the growth of currency circulation.
As a reminder, the growth of the currency, of which we have seen a dramatic increase in recent years as the amount of $ 100 bills in circulation has skyrocketed, eliminates reserves in the banking system; This would pressure the funds fed up if the Federal Reserve did not increase its balance to compensate for this.
BTC collapse and resurrection
Bitcoin returned. And the question that now starts ringing again in the media is how far it will go. The future of Bitcoin in 2019 has worried some and it is that certain analysts believe that the market will go down; but others believe that the BTC has potential to even exceed the peak value of almost $ 20,000 per unit that it reached at the end of 2017.
What we can agree is that there is a return in confidence about the critics, they will live a boom process, although it is not possible to predict with certainty how this transition will occur.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.