According to Hayes, the cryptocurrency is just one positive regulatory decision away from climbing through $20,000 on its way to $50,000 by the end of the year.

Considering the slump in price that Bitcoin has experienced for most part of 2018, Hayes remains bullish, noting such as a normal correction.

“I think that something that goes up to $20,000 in one year can have a correction down to $6,000 and will definitely find a bottom at about $3,000 and $5,000 range”, says Hayes.

This insinuation definitely upholds the opinions of most long term investors who have continued to HODL, seeing every deep as an opportunity to buy more Bitcoins into their portfolios.