Cryptocurrency bulls have already started to make their bitcoin price predictions for the year as they now believe that bitcoin has already bottomed to the lowest level for the year.
Recently, the CEO of Bitmex, the most famous cryptocurrency margin trading platform, Arthur Hayes announced his bitcoin prediction for the year and according to him, BTC will surely test the $10,000 range by this year-end.
Arthur Hayes’s bitcoin prediction was published in the Bitmex newsletter which said that bitcoin will correct upwards slowly and reach up to $10,000 by the end of 2019. He said that the current year’s chop shall be severe however, the bitcoin market will reach $10,000. He also mentioned that the real recovery price is $20,000.
According to his analysis, the first few months of the year have experienced low trade volumes as a lot of volatility in price, however, bitcoin did not the 2018’s lows of $3200.
Arthur also mentioned that the cryptocurrency market will not climb back really quick as a lot of investors have lost a lot of their money and thus they will not re-enter the markets that quick.
Bitmex CEO also mentioned that the cryptocurrency investors are still investing in ‘shitcoins’ such as TRON, Ripple and Binance coin.
What Arthur really trusts is that the majority of people will start investing large amounts of money into bitcoin and other cryptocurrencies by the end of the year i.e. Q4 of 2019.