BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital

So round 2 debate of the Tangle in Taipei, conducted between BitMEX boss, Arthur Hayes and Dr. Doom (Nouriel Roubini) has recently revealed. While the result of the debate seems nothing specific yet, the crypto community is calling it just “Hilarious”.
Round 2 – Crypto v/s Fiat v/s Digital
The best part of the debate that makes everyone exciting is that – only the Asia Blockchain Summit organizer and the BitMEX has the tapes as it was excitedly held behind the closed doors. Now the BitMEX exchange has released a second round of the tape.
The first round was based on the topic “Holy Trinity in Crypto – Decentralization, security, and scalability” wherein Roubini calls whole system “Bitcoin” as corrupt and ridiculous, and Arthur seems more financial privacy in it. Whereas the second round was focused on Crypto v/s Fiat v/s Digital.

In a second round of the tape, the footage reveals that American Economist and NY Professor, Nouriel Roubini shouts at crypto community and its leaders, yelling as “there are terrorists, criminals, tax evaders, human traffickers. Continuing his angry tone, he said there are all sorts of criminals out there’s the lots of shady stuff happening.
He further bashed at Bitcoin, shouting that this shitcoin is against the whole idea of cryptocurrency. At the center of the whole debate, Roubini pointed out at the business model of BitMEX and says that it is completely exploitative for retail investors. Above all, he believes that BitMEX is operating without sufficient regulations.
While few think the video is just Hilarious, the Moderator Andrew Neil hushed Roubini during a longer argument and shouted “Quite”. He quickly remarked
“There’s no point in the two of you talking over each other because we can’t understand a word you’re saying.” “It’s actually hard enough when you’re not talking over each other,”
Benefits of Crypto
When asked about what are the main benefits of Crypto, Arthur took up the mike and said “We need a choice” and Bitcoin represents an opportunity.
Bitcoin represents an opportunity instead of using courts laws and violence to govern how money is transferred between individuals and parties, we use open source software cryptography and math now which one successful, Arthur said. As a society, we definitely need a choice and that is what bitcoin represents a choice for a different way to govern financial transactions
While given the opportunity to Roubini on the same topic, he referred revolution is already based on artificial intelligence, big data and the Internet of Things. He further compared transactions over Bitcoin v/s transactions via Visa and states that “bitcoin is not scalable, it does five transactions per second whereas VISA does 25,000 transactions per seconds” and explains that;
There are payment systems today used by billions of people for billions of transactions a day – not 5 transactions per second and it (Bitcoin) is not scalable.
In a longer harangue, Roubini again directs back his thought to Arthur and elaborates, It is a business of one shitcoins being traded against another shitcoins and middleman like him (BitMEX/Arthur), they make money.
They don’t consider – whether it goes up, goes down, as long as their volume backs out the Commission, Roubini said.
Image Source – Video snap
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Source: CoinGape

Why Binance and bitMEX CEO are Still Bullish about a Altcoin Season?

Bitcoin’s [BTC] dominance over the cryptocurrency markets breached its yearly high to climb another percent. At press time, the dominance of bitcoin is above 64% at the moment.
The total Mcap of Bitcoin is around $225 billion while all the altcoins together are at $125 billion. While this is a positive indicator for Bitcoin ‘holders’, the altcoin investors are still rooted in losses.
Peter Brandt, a chart analyst, and trader suggest the same fact with some of the top altcoins, he tweeted,

Even with current rally, some macro-cap coins remain 80% or more off their 2017/2018 bull market highs.

Equivalent Value of Altcoins Portfolio from ATHs
While Bitcoin is gaining tremendous utility as a store of value, the altcoins are taking loses w.r.t. Bitcoins. While most traders believe that the altcoin run of 2017  is not likely to be replicated; nevertheless, we can still expect an altcoin season. Arthur Hayes, the CEO of BitMEX said in an interview with Ran Neuner,

Absolutely they will rally from the bottom. Will they regain their All-Time Highs in 2017. I don’t think so. Most of them were crap and will continue be crap. He also added ” Now, will there be a new type of vertical of token or coin or protocol that becomes sexy and it rips. I absolutely think so. Do I know what that is, I don’t.”
The CEO of Binance, Changpeng Zhao, also held a similar opinion on the alt-season. Binance’s inclusion policy has actively fostered the growth of many cryptocurrencies.
CZ also announced the live Margin Trading and futures plans. The leverage for margin trading on Binance is currently 3x the margin value. Nevertheless, CZ suggested that the leverage will increase over time with volume. BitMEX is primarily a derivative platform, whereas Binance is looking to offer a spot, margin and futures trading on the same platform.
Also Read: Bitcoin (BTC) Retreats from Weekly Highs On Binance Massive 7,350 Sell Order
On Alt-season and the growth of the industry, CZ noted,
To be honest, I am pretty confident we will. ‘Coz I think the industry is evolving. We’re now seeing real project with real money. So in 2017, there is all these ICOs. But now, in 2019, we are seeing who has the product. He also added,
Not Every altcoin going up at the same time. There are so many altcoins that there are selective ones that are strong, that will go up. So we’re gonna see more stronger projects go up.
Do you think that the altseason will begin soon? Which projects will benefit from it? Please share your views with us. 
The post Why Binance and bitMEX CEO are Still Bullish about a Altcoin Season? appeared first on Coingape.
Source: CoinGape

Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO

When the cat is away, the mice come out to play. As the global economy is muddled with concerns surrounding trade wars, interest rate movements, and global governance dilemmas, the cryptocurrency world is enjoying a parabolic move. Over the past few months, traditional finance has slumped, while Bitcoin has surged by 200 percent. With many […]
The post Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO appeared first on AMBCrypto.
Source: AMB Crypto

‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit?

The Tangle in Tapie between BitMEX CEO Arthur Hayes and American Economist, Nouriel Roubini has gripped the attention of the financial industry. The two opposing sides are staunch believers of their ideologies; while Hayes is a cryptocurrency fanatic, Nouriel is a staunch critic.
What made matters more impressive was the fact that the debate was held behind closed doors with no video recordings allowed by the attendees or the media. Only the organizers of the Asia Blockchain Summit, including BitMEX has the tapes.
Nevertheless, while Arthur believed that he ‘dusted’ Nouriel in the debate, the crowd seems to think otherwise. In an interview with leading Crypto-Journalist, Ran Neuner, the general sentiments of the crowd were that ‘Nouriel Roubini won the debate.’
Watch the debate highlights from the Courtesy of BitMEX here,

Roubini has been aggressively bashing Arthur Hayes and the crypto industry not releasing the tapes. He recently again tweeted,
They are hiding the whole video as CryptoHayes and BitMEXdotcom got totally reckt for once since their daily biz model is to BitmexRekt “degenerate gamblers” retail suckers with 100x leveraged toxic crypto derivatives. These folks are worse than blood-sucking leeches.
While the entire uncut version of it still yet to be released, the 100x leverage provided at BitMEX which leads to high volatility was the primary reason for concern. Even Mati Greenspan, Senior Market Analyst at eToro, at expressed doubts around it. In an exclusive interview, Arthur noted,
“This is a very exotic derivative in the backend, we were able to package it in a way that retail traders felt that they were trading on margin. He added, “And that’s bought immense liquidity to the market. And we’re able people allow to hedge larger amounts of risk because we’ve create such a speculative beast of a product.”
Hence, Nouriel’s’ direct attack on the business model of BitMEX and their most active trading product, the derivative market might have influenced the company to withhold the tapes. Moreover, his attacks on the business model further supported his argument that Bitcoin is only a ‘speculative asset.’
Therefore, while Nouriel might have won the debate, he has been proved wrong time and again. Moreover, the result of his ‘absolute doom’ predictions for the cryptocurrency industry will be reviewed in due time.
Do you think that derivatives that provide high leverage must be stopped due to volatility concerns? Please share your views with us.
 
The post ‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit? appeared first on Coingape.
Source: CoinGape

Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’

Bitcoin and the rest of the cryptocurrency market have always been subject to scrutiny and abject criticism by its critics. These comments have not just targeted major coins like Bitcoin and Ethereum, but almost all other digital assets on the charts as well. Such criticism was put in spotlight again when Nouriel Roubini aka Dr.Doom, […]
The post Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’ appeared first on AMBCrypto.
Source: AMB Crypto

Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes

The debate between Arthur Hayes and Nouriel Roubini at the Asia Blockchain Summit on 3rd July 2019 was a strong platform where people from two different worlds took center stage to share their independent views.
Roubini is an American Economist who is a strong critic of Bitcoin and cryptocurrencies. On the other side, Arthur Hayes is the CEO of BitMEX, which is one of the largest Exchanges in the world that offers crypto-derivates.
The debate reportedly turned sour in the end. Moreover, Arthur said that he “dusted” Nouriel in the debate. However, Nouriel has different views, he accused Arthur of not allowing media to cover it. So much so that he accused the entire crypto-industry,
Crypto is a mafia hush money racket. The blockchain conference organizers cowed and caved to BitMEX’s censorship and didnt tape or broadcast my debate with @CryptoHayes; he had his underlings make the only tape of the debate and is hiding it from view. Release that tape coward!
Roubini also accused Arthur of running a fraudulent exchange riddled with ‘insider trading, front running, flouting AML/KYC registrations’ and what not.
While are tapes or video is yet to be released, Nouriel has alleged Arthur of something absolutely offensive because according to him the tapes are being tampered with to make Arthur look good and Neuriel bad. He expressed his rage on Twitter where he also threatened to sue Arthur. He tweeted,
Because @CryptoHayes is a coward and wimp who looked like a total idiot in our debate. So he had to censor the video of the debate. A total crook and mafioso style thug
Reportedly, he also accused Arthur of criminal behavior by censoring the tapes. Whalepanda tweeted,

"I will sue them" Someone has been taking lessons from CSW. pic.twitter.com/rwIP9AU9Ck
— WhalePanda (@WhalePanda) July 5, 2019

There are a couple of other recordings and views from the debate. However, the most credible view until now has been from Ran Neuner, who said in an interview that the debate was evenly balanced and there were a couple of hard-hitting questions from Roubini that are a concern for the Bitcoin community.
Here is an audio clip of the debate re-tweeted by Roubini.

An audio recording of the debate but the sound quality is quite poor. https://t.co/UxJWbG4gSr
— Nouriel Roubini (@Nouriel) July 4, 2019

Do you think that Roubini’s outrage is justified? Please share your view with us. 
The post Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes appeared first on Coingape.
Source: CoinGape

Dr Doom Dukes it Out With BitMEX Boss For Crypto Supremacy

In what has been dubbed the ‘Tangle in Taipei’, serial crypto misanthropist Nouriel ‘Dr Doom’ Roubini faced off with BitMEX boss Arthur Hayes. The crypto sparks started to fly as the language became more colorful between the two adversaries.
Dr Doom On The Warpath
Economist Roubini just can’t stay away from Bitcoin. His repugnant rants on the digital asset have been repeatedly documented, yet he still chooses to attend crypto centric conferences to rage on about what has clearly become his personal demon over the past decade.
After labeling Binance boss, Changpeng Zhao, a ‘snake oil salesman’ yesterday, Roubini has eyed up Hayes at the Asia Blockchain Summit in Taipei today as he continues to belittle everyone involved in the crypto industry. In an opening statement Roubini said:
“Shitty behavior occurs in this industry – scammers, criminals and so on. Next to me is a gentleman who works with degenerate gamblers and suckers, not accredited investors.”
The main beef here is clearly the massive leveraging of up to 100x that BitMEX offers to often inexperienced traders. He added that there was no KYC or AML at the exchange and accused it of insider trading. The tirade continued with:
“BitMEX is just an example of everything that is sick and wrong in the industry.”
BitMEX Bites Back
Hayes retorted with:
“I don’t even want to call you a professor, you went straight for me. We don’t have any marketing, we don’t seek out any people, they have found an oasis. People saw this phenomenon, real value, and decided they wanted to speculate.”
The battle raged on with Roubini reiterating the lack of regulation angle with Hayes responding that they are based in the Seychelles and not everyone needs to follow rules set by the US.
Things started to heat up when the topic moved beyond BitMEX and on to Bitcoin and altcoins, a clear red flag to Dr Doom who seemed to lose the plot here with comments like:
“We have AliPay in China and similar systems in India. We don’t need that cesspool of stinking shitcoins.”
Hayes replied stating that these systems were very convenient, yes, but they are controlled and monitored by governments and tech monopolies whereas Bitcoin and crypto is private and decentralized. He added;
“We need to get f****d by the government, before we realize how important this is.”
The full transcript was uploaded by Mike Dudas, founder and CEO of The Block.
The battle did not end there and raged on via Twitter with Dr Doom pulling the crypto mafia card.

Don’t worry our tapes will exposure your thin grasp of economics and technology. After seeing these tapes, I would be surprised if you were allowed into any higher learning institution. https://t.co/nTDQIUlaHV
— Arthur Hayes (@CryptoHayes) July 3, 2019

It is clear that Roubini stands for old school, heavy handed state control where people have little or no control over their own finances.
Both are claiming victory but in reality there are no victors when so much of the argument was bloated opinion. Dudas called it pretty even which is probably about the best we can ask for.

I was there — totally untrue. I understand why Nouriel is so upset that BitMEX forbid reporters from livestreaming or audio recording. It was a nearly dead-even debate, and both men made strong arguments. I might even call it 52/48 for Nouriel.
— Mike Dudas (@mdudas) July 3, 2019

Meanwhile Bitcoin bounced back 20 percent from its short lived correction as the bulls powered on.
Image from Shutterstock
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Source: New feedNewsBTC.com

Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’

The crypto-community and even its critics or gold buffs are both looking up to the epic battle between American Economist, Nouriel Roubini and BitMEX CEO, Arthur Hayes. The Asia Blockchain Summit at Taipei is hosting the event.
Nouriel is a professor at the NYU and has strongly advocated against Bitcoin and cryptocurrency since 2013. As reported on CoinGape in the mark up to the debate, Nouriel believes that cryptocurrencies are corrupted and will imminently doom.
On the other hand, Arthur Hayes is the CEO and founder of one of the largest Cryptocurrency Exchanges that offer derivates contracts on it. It reported a volume of $1 trillion over the past year, which Hayes said is coming from rising retail interest. Arthur also praised Libra and predicted that it would challenge the banking systems.
Reportedly, the debate turned sour and “heated” soon enough as the moderator asked Nouriel,
“when I say quiet you be quiet!”

Heard this is @CryptoHayes vs @Nouriel debate was like today in Taipei? pic.twitter.com/CsYEgBVxsn
— Dovey Wan 🗝 🦖 (@DoveyWan) July 3, 2019

Also Read: Also Read: Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds!
Nouriel accused crypto exchanges including BitMEX of reporting fake volume and luring the crowd. When in reality, it is still in the dark and controlled mostly by criminals. However, Arthur “begged to differ” and assured the crowd that the volume is real; and a lot is going on in crypto.
Ran Neuner, Crypto-Journalist gave a small snippet of the battle on Twitter. He reported that the battle soon heated up with Nouriel making personal and derogatory remarks at Arthur. Neuner tweeted,
Moderator “ Are you saying Arthur is a crook?”
Nouriel – “ there are laws but they are not in all jurisdictions and retail suckers are being rekt by whales” “There are reasons why there are laws and these people don’t give a shit”
Arthur eventually got agitated by the ignorant remarks and aggressive nature and replied harshly,
Arthur to Nouriel: “ I don’t even know why they call you professor. No one is forced to use our site, we dont even market it. I was going to talk about Crypto and the amazing thing happening but Nouriel decided to bash me and my business”
According to Neuriel, the amazing things are happening around cryptocurrency is insignificant. People must look forward to the ‘FinTech’ space. Arthur and the crypto-community are putting Nouriel as a ‘no-coiner’. Metlem Demirors, crypto-Analyst at Coinshares included Nouriel in the ‘no-coiner’ list with Peter Schiff who is another ‘no-coiner’ and a harsh critic.
Do you think that growth is real as well or crypto is destined to doom? Please share your views with us. 
The post Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’ appeared first on Coingape.
Source: CoinGape

BitMEX’s Hayes: Bitfinex’s LEO Sale Sign Of Returning Bitcoin Bull Market

Weeks ago, Bitcoin exchange giant Bitfinex raised $1 billion worth of capital, purportedly denoted in Tether’s USDT, in an in-house initial exchange offering (IEO). The token being sold was Bitfinex’s own, LEO, and became a popular investment opportunity for whales and other industry insiders.
Since the raise finished, news on the subject matter has quieted. Yet, one industry executive recently came out to say that the success of the raise is of more importance that we may realize.
Related Reading: Trouble? Bitfinex Posts Record High Net Bitcoin Withdrawals in April 2019
Signs Of Returning Bitcoin Bulls
In the most recent edition of “Crypto Trader Digest”, penned by BitMEX chief executive Arthur Hayes, it was suggested that the recent IEO boom is a sign of returning Bitcoin bulls. Hayes explained that with IEOs being the spiritual successors of initial coin offerings, which was a massive catalyst behind 2017’s Bitcoin and Ethereum surge, a surge in activity in this subindustry could “cause speculators to pile back” into this industry.
The data suggest that IEOs have already seen massive success. As aforementioned, Bitfinex raised $1 billion from a mass of investors, of which many have been purported to be China-based. And Binance has continued to see tens of thousands, maybe more, line up for its IEOs.
While Hayes went on to acknowledge that this craze is just feeding into the incessant stream of “s**tcoins” and “SICK GAINZ”, he adds that Bitfinex’s raise confirms that the “community is feeling good about itself”. Or as he put it on Twitter a bit earlier, “the bull market is here, buckle-up buckaroos!!”

A $1bn IEO raised in less than one month. Bull market is here, buckle-up buckaroos!! https://t.co/4DaZ0fNtXe
— Arthur Hayes (@CryptoHayes) May 13, 2019

Funnily enough, however, some have postulated that the sale of LEO tokens may be a detriment to the crypto market. As reported by NewsBTC previously, Tom Lee, Fundstrat’s head of research, explains that $1 billion worth of new tokens will have a negative impact on BTC and other digital assets, as the market needs to “absorb” an influx of LEO tokens. As Lee notes, “Bitcoin miners sell $7mm per day, so a $1 billion IEO is essentially 142 days worth of miner selling taking place in one day.”
But, LEO has launched, and the market has actually stagnated, not collapsed.
Not The Only Sign
This isn’t the only bullish sign that Hayes has seen as of late. In a tweet, the former institutional trader pointed out that the June and September contracts on BitMEX are in contango, when a futures contract trades above the spot price, a sign of longs and bullish speculators.

The bull market is real. A momentary dip below 7k, and a few days later we are back above 8k and the Sep and Dec contracts are in contango. Booyah! pic.twitter.com/qknhDQ8i7p
— Arthur Hayes (@CryptoHayes) May 19, 2019

Featured Image from Shutterstock
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Source: New feedNewsBTC.com

BitMEX CEO Says Bull Market is Real but Bitcoin Will Dip Below $7k First

The CEO and Co-Founder of BitMEX Arthur Hayes say the bull market for Bitcoin is real, despite the current stagnation under $8,000. He said Bitcoin may have to dip below $7,000 before a bounce back to $8,000 will be experienced and then Bitcoin will go higher from there.
Tom Lee agrees
Fundstrat’s head of research Tom Lee has confirmed several times that the Bull market was on. He is still of the opinion that the crypto winter is over and that a bull run is close. He said the Arthur Hayes knows what he is saying because
“Exchanges have insights into the positioning and behavior of crypto investors, and @BitMEXdotcom large trading share + popularity with leveraged traders means @CryptoHayes REALLY knows…. He further added that he is sure the crypto winter is over because Hayes affirms it.
Lee is among the top Bitcoin bulls in the industry with his bullish sentiments based on data research rather than just speculation. As head of Research at Fundstrat, he has used many indicators such as the Bitcoin Misery Index (BMI) to prove that the Bitcoin is soon to experience a bull run.
Also read: JP Morgan Confirms Bitcoin Price Surge Mimics 2017 Bull Run
When will this be?
According to the BitMEX CEO, Bitcoin will have to dip below $7,000 “for a few days.” Bitcoin is currently trading at $7,896. This means it might take some time before the asset goes below $7k, though the market can move faster than anticipated at times. If the market does dip below $7k, it may be the opportunity some have been waiting for to buy and become a part of the bull run. From there, Hayes sees Bitcoin bouncing right back above $8k and the rest is unpredictable.
The post BitMEX CEO Says Bull Market is Real but Bitcoin Will Dip Below $7k First appeared first on Coingape.
Source: CoinGape

BitMEX CEO talks about millennials and future of Bitcoin, BitMEX

BitMEX is one among the largest cryptocurrency exchanges which provide perpetual contracts for Bitcoin and offer leverage trading of Bitcoin contracts up to 100x. Arthur Hayes, the CEO of BitMEX, spoke on the Venture Coinist podcast and discussed his vision for BitMEX and how he saw the Bitcoin ecosystem evolve.
Arthur Hayes addressed the ads that they put out on the tenth anniversary of Bitcoin and the BitMEX Research department. He said that the bedrock of BitMEX and other cryptocurrency platforms rested on a well-functioning Bitcoin ecosystem. He added that since they did not have any banks or other financial institutions which needed to provide permissions, they relied on Bitcoin. He further added that it underpins their business.
Hayes elucidated,
“We are dependent on Bitcoin to allow us to be financial creative in the products that we bring to the market, so it behooves us to be supportive of the ecosystem, whether its educating people through research platform that has nothing to do with products that we offer and more to do with Bitcoin blockchain and other technological things that are happening in the ecosystem.”
Speaking about his vision for BitMEX, Hayes explained that millennials were comfortable with the digital form of money and that the demand for analog money would eventually fall. Hayes also added that the “baby-booming generation” in the 70s and 80s were coming into “asset-earning ages”.
Addressing Bitcoin and the current generation, Hayes said that “they were baby-booming generation” and that millennials and the Gen-Z would be the generation that would ride the shift from analog money to digital money. He continued that this was the reason why stocks and bonds were traded from 9-to-5 for five days and cryptos were being traded 24×7.
Moreover, Hayes said that the next generation, millennials or Gen-Z would be comfortable with digital assets in the near future and that Bitcoin would gain more traction in the next 10-20 years.
The post BitMEX CEO talks about millennials and future of Bitcoin, BitMEX appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin (BTC) May surge 10X and Xapo CEO Suggest Investment

Bitcoin price steady above $5,000
Arthur Hayes projects Bitcoin at $50,000

Analysts are bullish. Of the many, Arthur Hayes of BitMex believes fundamentals are aligned pricing BTC at $50,000. With such a valuation, BTC will outperform traditional assets. Because of that, Wences Casares of Xapo suggests investing one percent of an investment portfolio in the digital asset.
Bitcoin Price Analysis
Fundamentals
Price leads sentiment and right now, Bitcoin is on an uptrend. After 15 months when prices slid from $20,000 to lows of $3,200, there is relief that the market is bottoming up at last. Because of this optimism and newfound momentum, there are all sorts of analysts that are confident that the world’s most valuable coin will hit six or even seven digit valuation in the next few years.  Arthur Hayes, the founder of BitMex, one of the few exchanges allowing margin trading as well as futures trading of Bitcoin prices, is unwavering. After last year’s projection didn’t come to pass, he still maintains a $50k price tag.
In the Venture Coinsight podcast with Luke Martin, the Hayes said Bitcoin prices could “materially go higher if the world plays out the way I think it’s gonna play out.” If that is the case, then the coin is undervalued, and the next parabolic wave would, therefore, lift the asset valuation by 10x of what it presently is.
For this reason, Xapo CEO Wences Casares believes that strong returns from Bitcoin should, therefore, translate to most portfolios investing at least one percent in the asset because of it continuously outperforming other traditional assets as indices and stocks:
“I suggest that a $10 million portfolio should invest at most $100,000 in Bitcoin (up to 1% but not more as the risk of losing this investment is high). If Bitcoin fails, this portfolio will lose at most $100,000 or 1% of its value over 3 to 5 years, which most portfolios can bear. However, if Bitcoin succeeds, in 7 to 10 years that $100,000 may be worth more than $25 million, more than twice the value of the entire initial portfolio.”
Candlestick Arrangements

At the time of press, Bitcoin (BTC) is up one percent and a couple of dollars away from $5,100. All pointers hint at bulls, and to that end, prices may close above $5,000 at the back of light transaction volumes.
Because of the shifting sentiment and bulls flowing in, every low is technically a buying opportunity for risk-off traders aiming at $6,000.
On the other hand, risk-averse or conservative traders should wait for a close above $5,500 complete with high transactional volumes before taking with similar targets of $6,000 and even $8,000.
Technical Indicators
Volume-wise, trading ranges are tight. Reflecting these are low transactional levels meaning our anchor bar is as per yesterday’s BTC/USD trade plan. Any bar lifting prices above $5,500 must be with high volumes exceeding 19k of Apr-11.
Chart courtesy of Trading View.
The post Bitcoin (BTC) May surge 10X and Xapo CEO Suggest Investment appeared first on NewsBTC.
Source: New feedNewsBTC.com

Breaking News: BitMEX Fears Regulator’s Crack Down, Ditches North American Markets

One of the active crypto exchange and the Bitcoin futures trading platform, BitMEX is shutting client’s trading accounts in US and Quebec. Per SCMP, this move is a result of the Quebec regulator’s action on curbing unauthorized exchanges.
Image Source: Bitmex
BitMEX Under Regulatory Pressure
Back in early 2018, Autorite des marches financiers (AMF), Quebec’s financial regulators urged to close all accounts linked with BitMEX exchange. This is because AMF identified that the exchange is not registered with AMF and thus not authorized to provide trading services. Nevertheless, an official announcement calls ‘the trading activities of BitMEX is illegal’ henceforth all linked accounts must be immediately closed.
tradi“BitMEX is not registered with the AMF and is therefore not authorized to have activities in the province of Quebec,”
According to the various sources, BitMEX’s major user base, specifically, a one-seventh portion comes from US-based traders. Nevertheless, the specific matter behind exchange’s US account closure is still out of sight and whether or not BitMEX is already registered with SEC is also not known. SEC (Securities and Exchange Commission) is continuously eyeing on unregulated and illicit crypto activities but it has declined to comment on BitMEX’s decision, IMF said. Nonetheless, the US-traders closure on BitMEX was also reported back in November 2018 by users on social media.

Just got my @BitMEXdotcom account terminated on suspicion of being a US Citizen. Anyone else find the timing of this odd?The 900+ affiliates that accounted for half my income r gone going forward.After #Unconfiscatable Conf expect prices on all services offered by me to rise. https://t.co/6bShmcdBEF
— Tone Vays [@Bitcoin] (@ToneVays) November 12, 2018

Beside SEC, Arthur Hayes who is the co-founder and chief executive at BitMEX also declined to respond to the decision. Moreover, the graph of BitMEX trading over the past year has also declined with the falling graph of Bitcoin.
Conclusively, the regulatory frameworks and market break down are typically the key reason behind BitMEX’s closure. At press time, BitMEX counts the trading volume $928,723,978 where the leading cryptocurrency, Bitcoin is trading at $3662.50. Additionally, it is noted that few BitMEX users switched to trade Bitcoin futures when Bitcoin suddenly dumped in 2017 from its peak of almost $20000. According to the data from coinmarketcap, Bitcoin is valuing $3679.79 with positive growth of 2.99 percent during 24hrs.
image source – https://coinmarketcap.com/currencies/bitcoin/
What do you think of BitMEX’s decision? Share your thoughts.
The post Breaking News: BitMEX Fears Regulator’s Crack Down, Ditches North American Markets appeared first on Coingape.
Source: CoinGape

BitMEX CEO Accurately Called $5,000 Bitcoin in August, Is $2,000 Next?

Bitcoin has set a new low for 2018, and is now inching closer and closer to BitMEX CEO Arthur Hayes’ prediction that Bitcoin will reach $5,000.
BitMEX CEO Called for Bitcoin to Test $5K Support, Nails Prediction
Outspoken CEO and co-founder of popular margin-trading platform BitMEX has made a number of predictions about Bitcoin’s price since the leading cryptocurrency by market cap reached its all-time high of $20,000 last December.
One of his most recent predictions, calling for Bitcoin to hit $5,000, is about to become a reality.
While many cryptocurrency analysts had been calling for a bottom, Bitcoin finally fell through its seemingly unbreakable and repeatedly tested support at $6,000, quickly plummeting to $5,500 yesterday, and hitting a low of $5,250 earlier this morning – a mere $250 away from Hayes’ prediction.
Hayes started the year with a far more positive outlook on Bitcoin, suggesting that the volatile asset could reach $50,000 by the end of 2018.
Considering Bitcoin’s parabolic rise from $5,000 to $20,000 in around a month’s time, exuberant predictions were the norm and at the time seemed very possible. However, as the bear market took its toll on investors scorn by continuously falling prices, Hayes adjusted his predictions. Others, such as Tim Draper or cybersecurity firm founder John McAfee are calling for as much as $250,000 and even $1 million per Bitcoin.
McAfee was so confident in the prediction he offered to “eat” his genitalia if the lofty prediction didn’t come true.
Back in August, the BitMEX CEO, while speaking on CNBC’s Fast Money, told host Melissa Lee that cryptocurrency investors haven’t “seen the worst” yet and that he would “like to see” Bitcoin “test 5,000 to really see if we put a bottom in.”
Hayes made the comments after Bitcoin briefly touched below $6,000 in late June, and began to rally before being stopped at roughly $8,250. Hayes had suggested at the time that if the rally had passed $10,000, his prediction of $50,000 was still feasible, but if the rally couldn’t break the psychological resistance at $10,000, then a test of $5,000 would be in the cards. He was right.
Related Reading: Bitcoin Break to $5,600 is Good For Crypto, Says Major Investor
Is Arthur Hayes’ New Prediction the Next Stop for Bitcoin?
Hayes isn’t done with his goal of accurately predicting the bottom in Bitcoin, and is now calling $2,000 to $3,000 his “new sweet spot.” He also thinks that the ongoing bear market, which is already nearing a year in length, could last another year to 18-months.
Hayes has based his assessments on Bitcoin’s price and its relation to the 200-day moving average. Having “lived through the 2014-2015 bear market,” Hayes has also been waiting for a “nasty #@$ candle that breaks the soul of the bulls” – a candle which most bulls are hoping occurred yesterday, and isn’t looming on the horizon.
Market bottoms are usually identified by a V-shaped capitulation event, which many have claimed has yet to happen in what appeared to be Bitcoin’s bottom at the time.
If yesterday’s drop wasn’t the capitulation event, then Bitcoin may be following Hayes’ new prediction of $2,000 to $3,000. If it was, $50,000 could be next after the bulls regain control.
Featured image from Shutterstock.
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Could the Bear Market Last 18 Months? The CEO of BitMEX Thinks So

The CEO of popular crypto derivatives exchange BitMEX has stated that he thinks the current bear market could last until spring 2020.
Arthur Hayes has been calling for lower prices for most of 2018, but thinks all-time highs could be easily achieved pending significant news events.
Arthur Hayes Compares Current Bear Market to That of 2013
Arthur Hayes, CEO of BitMEX, has warned the cryptocurrency community to be prepared for another 18 months of the bear market.
The founder of the derivatives trading commented on the current market conditions at a Yahoo Finance U.K. event sponsored by The Spectator magazine held in London.
Hayes stated that he also expects less volatility over the period and said that conditions could certainly get worse:
“We think trading volumes could fall further from where they are now.”
He then recounted his former experience in the Bitcoin space. He said he first got involved in 2013 during the boom to $1,300 and saw the following “nuclear bear market”:
“Price crashed, volume crashed — very, very difficult to make money.”
Hayes is one of a few vocal industry participants who are openly bearish about the Bitcoin market. He previously predicted that Bitcoin would drop to the $3,000 to $5,000 range, but was one regulatory decision away from seeing huge price gains.
He has hazarded that it could be an ETF that would reverse the fortunes of the number one cryptocurrency. This could send the price right up to $50,000 before the end of 2018, he believes.
Mike Novogratz, a Bitcoin bull, has admitted he thought that Bitcoin would struggle to see substantial gains this year. The Fundstrat CEO had previously said he thought the number one digital asset would “easily” reach $40,000 by the end of 2018. At the start of this this month, Novogratz stated that he no longer held such a bullish outlook and instead believed Bitcoin would struggle to reach over $9,000.
Meanwhile, the likes of Tommy Lee has made end of 2018 predictions that are increasingly looking suspect. As recently as September this year, he said he thought $20,000 was still on the cards before the year culminated. RT’s Max Keiser, meanwhile, ominously tweeted that he believes that $28,000 is still in play:

$28,000 still in play. #Bitcoin
— Max Keiser, tweet artist (@maxkeiser) September 1, 2018

Other commentators on the space believe that the price is less insignificant and the market is just going through familiar patterns. Will Warren, the co-founder of the Ox crypto exchange, commented to Yahoo Finance UK in a phone interview:
“Having followed this space since 2011, we’ve seen a number of different cycles where a large number of people start to get interested in the technology and it kind of winds up and then winds downs again… The market is blowing off some steam right now.”
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