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7 December 2023
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BitMEX CEO Affirms Ethereum Will Quickly Rise To $200 USD When ICOs Return

Everybody knows that 2018 was not a kind year for Initial Coin Offerings (ICOs). While ICOs were very hyped in 2017, most of the promises that they made were not delivered this year, so the market kind of fell apart in a joint problem caused by too much hype and regulation that stopped many new ICOs for being realized.

Now, the CEO of BitMEX, Arthur Hayes, has affirmed that ICOs will return within the timeframe of 18 months and that Ethereum’s price will go up again because of this and might reach $200 USD.

According to Hayes, Ethereum’s use case are mostly ICOs. Unfortunately, the market died out in 2018, so Ethereum was hit hard by this. He believes that a rebirth of the market is due and that it will happen in 12 to 18 months. This means that, if not at the end of 2019, certainly in 2020.

Ethereum has seen losses of over 90% this year but is more stable lately. Security tokens and stablecoins, the CEO defends, will attract the investors back in 2019. Hayes affirms that first stablecoins will start to dominate the market more and will stabilize it little by little and that later the new ICO would appear.

The only point not touched by Hayes was whether the new ICO would also implode like the one from 2017 or not.

Justin Sun, the CEO of Tron, a competitor of ETH, has affirmed that ETH is “slowly imploding”, but he would obviously affirm that since that is what he wants, right? Therefore, Hayes is a more credible source here.

Hayes has finished talking about Bitcoin. He believes that its price will fluctuate between $1,000 and $10,000 USD in 2019, a view that is considerably more conservative than the one that many investors have.

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