In a newsletter published yesterday by BitMEX, Hayes delivered some charged assertions on everything from major influencers in the crypto industry to predictions for the upcoming year of trading. While he thinks traders are in for further ups and downs, especially when it comes to their bags of obscure altcoins, Hayes sees Bitcoin making positive moves before year end.
“The 2019 chop will be intense, but the markets will claw back to $10,000,” said Hayes. “That is a very significant psychological barrier. […] $20,000 is the ultimate recovery. However, it took 11 months from $1,000 to $10,000, but less than one month from $10,000 to $20,000 back to $10,000.”
Apart from this bullish prediction, Hayes also took shots at TRON CEO Justin Sun and Binance CEO Changpeng “CZ” Zhao when describing the current altcoin landscape.
“All is not lost; nothing goes up or down in a straight line. 2019 will be boring, but green shoots will appear towards year end,” added Hayes. “[…]Do not despair. CRipple is still worth more than zero. And Justin Sun’s new age religion TRON, paired with the Pope CZ, tells us there are those still willing to eat shitcoins with a smile.”
Bitcoin is currently down 0.1% on the day to $4,020, giving the largest digital currency a $70.6 billion market cap — roughly 50.6% of the $139.8 billion crypto market.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.