Arthur Hayes Predicts BTC ‘Two-Step’ to $20,000

BitMEX CEO Arthur Hayes has once again emerged – this time from the top of Peru’s mysterious city in the sky, Machu Picchu.

Hayes brought with him a new prediction on the price of Bitcoin, saying he thinks it’s now on a path to doubling in value.

Right now, Bitcoin is up 4.97% at $10,661, according to COIN360 at time of publishing.

Ethereum is up 1.18% at $180.15, XRP is up 0.52% at $0.2622 and Litecoin is up 3.39% at $68.92.

CoinDesk analyst Omkar Godbole says low volume indicates it’s too early to declare that a renewed BTC bull run is underway.

“Weak trading volumes, however, indicate the recovery could be short-lived and a fall back to $9,750 could be in the offing in the next day or two. Weekly chart indicators continue to call a bearish move.

A high-volume UTC close above the bearish lower high of $10,956 (Aug. 20 high) is needed to revive the short-term bullish outlook.”

Here’s a look at the latest forecasts from across the cryptosphere.

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