BitMEX CEO Arthur Hayes predicts that initial coin offerings (ICO) will rise again within “18 months” and Ethereum (ETH) will “rebound aggressively” talking with crypto media outlet Cointelegrph Japan on December 26.
BitMEX is a cryptocurrency exchange in Hong Kong and is also a leading exchange in terms of volume.
In the interview, Hayes reportedly forecasts a return of the market from 2018’s poor ICO market. He said, “the use case for Ether is primarily ICOs. That market is dead right now.” adding here, “once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out.”
Hayes’s comment comes after ETH saw very unstable few weeks only to be settled around $130 (CoinMarketCap) as per the press time.
Hayes thinks that before all this happen for the next 12-18 months stablecoins will see favorable market, noting, “security tokens and stablecoins will prove attractive sirens for investors in 2019.” explaing this he continued, “while their fundamentals raison d’etre is flawed, investors in this time of pain will latch onto anything they believe will be their ticket to easy riches.”
Although he didn’t said anything on the extent of this rise.
On Bitcoin (BTC) Hayes also had a positive remark as he suggested the range of $1,000 to $10,000.
Few sources believe that BTC will rise more than this range as they argue that institutional investors are engaging in BTC in large numbers through new financial apparatus.