Bitcoin will reach $50,000 in 2018, says BitMEX CEO

BitMEX CEO Arthur Hayes has been speaking again about his predictions for Bitcoin, saying the virtual currency will hit $50,000 by the end of 2018.

Speaking on CNBC’s Fast Money, Hayes admitted that his prediction is not made with absolute certainty, adding: “It’s my job to make predictions. Whether they’re right or wrong, it doesn’t matter to me.”

BitMEX, the record-holder for Bitcoin traded in a single day, offers 100x leveraged trading as one of its key features.

“It’s a headline number,” Hayes adds. “Most traders do not use a 100x leverage. Some traders use it as a testing ground or a free option. It is a limited liability from the perspective of a the trader. On BitMEX, traders can only lose what they put in.”

Big predictions for Bitcoin are not uncommon, with LDJ Capital founder David Drake saying the coin would hit $30,000 by the end of the year back in March.