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Bitcoin Price ‘Two-Steppin’ to $20K’: BitMEX CEO Hayes Returns

Anja van Oosterhout

Anja van Oosterhout | Sep 03, 2019 | 07:30

Bitmex News

Bitcoin Price ‘Two-Steppin’ to $20K’: BitMEX CEO Hayes Returns

Anja van Oosterhout

Anja van Oosterhout | Sep 03, 2019 | 07:30


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Bitcoin price trajectory is heading back to $20,000, BitMEX CEO Arthur Hayes has said as he returns to the spotlight after a month-long absence.


Hayes Emerges For Conference

In a tweet on September 3, Hayes, who at the start of August said he was abandoning public life, will attend the Invest Asia conference in Singapore on Wednesday. 

In his first social media correspondence since his sojourn, Hayes provided a rare Bitcoin price prediction, appearing to suggest the cryptocurrency was about to double. 

“Did y’all miss me? I’m back from deepest darkest Peru, ready to cash checks. For those of you in Singapore next week for Invest Asia keep Wednesday night free,” he wrote. 

“We will be two-steppin’ straight to $20k.”

The $20,000 marker is significant for Bitcoin holders, as it marks BTC/USD’s highest-ever price which it hit in December 2017. 

Since then, the area has remained unchallenged, with Bitcoin managing to rise to only $13,800 earlier this year before encountering a lack of support. 

Earlier this week, concerns were mounting for Hayes, who had promised he would touch base in September.

BitMEX Rolls On Despite CFTC Attention

Hayes has become synonymous with BitMEX, the derivatives giant which frequently makes the headlines over the amounts its traders win or lose while betting on the Bitcoin price. 

Periods of volatility produce especially wild conditions, with hundreds of millions of dollars’ worth of positions being liquidated in a matter of hours on some occasions. 

The often outspoken Hayes’ trip to Peru meanwhile came shortly after news broke that US regulators were investigating BitMEX over compliance. 

While not registered in the country, the Commodity Futures Trading Commission (CFTC) said it had reason to believe US residents were sidestepping legal procedures to use BitMEX when they were not allowed to. 

The investigation is ongoing, but concern rippled through markets in late July, causing a capital outflow and wider volatility. Hayes has yet to provide further comment on the proceedings. 

His return coincided with fresh developments on the cryptocurrency trading market. As Bitcoinist reported, VanEck, the company which has so far tried and failed to bring a Bitcoin exchange-traded fund (ETF) to market, is preparing a change of tactics to serve demand.

A loophole will allow an altered offering to avoid the need for US securities registration. In October, US regulator the Securities and Exchange Commission (SEC) will issue a final decision on whether to allow a ‘true’ ETF to hit Wall Street.

A similar decision on an ETF by Bitwise will emerge during the same period.

What do you think about Arthur Hayes’ return and price forecast? Let us know in the comments below!


Images via Shutterstock, Twitter @Cryptohayes

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