Arthur Hayes, CEO of BitMEX, popular leveraged trading exchange, still has his eyes set on the $50,000 EOY price prediction that he made earlier this year. Hayes, a former traditional assets trader and a graduate of Wharton, has made a name for himself in the cryptocurrency industry after a tenure on the Asian ‘Wall Street’.

He has recently made an appearance on CNBC ‘Fast Money,’ which has become pronounced for near-daily appearances of cryptocurrency personalities and analysts.

While on-air, Hayes noted that it was still reasonable for Bitcoin to reach new all-time highs, despite the recent downtrend. The CEO stated:

“Well, I think that something that goes up to $20,000 in one year can have a correction down to around $6,000.”

Later adding that the cryptocurrency market is perhaps “one positive regulatory decision away, maybe an ETF approved by the SEC, to climbing through $20,000 or even $50,000 by the end of the year.”