Bitcoin To Hit $50,000 By Year-End: BitMEX CEO Arthur Hayes | CNBC
CEO of BitMEX: Bitcoin will be $ 50,000 in 2018
CNBC's Seema Mody reports on the world's largest bitcoin conference and Arthur Hayes, BitMEX CEO, discusses his outlook for the cryptocurrency. Included are CNBC's Melissa Lee and the Fast Money traders, Pete Najarian, Tim Seymour, Dan Nathan and Guy Adami.
'$ 50,000 in 2018'
Hayes continued his words:
"Bitcoin is actually a speculative asset. Anyone who claims that investing in Bitcoin is not risky is deceiving himself. We are talking about an asset that surpasses $ 200 billion in just under 10 years of nothing. I advise everyone investing in Bitcoin not to make more money than they can afford to lose. Any asset class that has more than 10 to 20 percent volatility per day must be traded. I think Bitcoin will reach $ 50,000 in 2018. "
The rise in bitcoin prices has raised concerns over money laundering and legal regulations, but Hayes is not worried about that. Hayes stated that Bitcoin operations are currently heavily regulated and that Bitcoin stock exchanges meet KYC requirements:
"Traditional banking laws are already in place when you want to get into the system. I do not worry (about money laundering) because you go through a similar process as opening a bank account when opening a Bitcoin account. "
The Source;
http://newsvideo.su/video/8758000
https://uzmancoin.com/bitmex-bitcoin/
Helpful update, thanks
Interesting to know that most money is still from retail. This market will change a lot when institutional money enters (which it's starting to do)
Thanks for your comments !The transfer of the banks will no longer take place and the Crypto Borsa will take its place!
I don't think it will ever be a 100% transition to Crypto. But all we need is even a 10% transfer and it will cause the Crypto market to balloon
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