investors, but "something that goes up to around 20,000 in one year can have a correction Hayes, the co-founder and CEO of BitMEX, said on "Fast Money" Friday. Show chapters, despite the recent bloodbath in cryptocurrencies, Bitcoin bull Arthur Hayes said the popular digital coin will reach 50,000 by the end of the year. Disclaimer, watch: Bitcoin Mercantile Exchange co-founder is bullish on bitcoin show chapters. But Hayes pointed out that bitcoin's volatile nature and the possibility of large gains is what makes it so attractive to investors. Show chapters, bitcoin is close to bottoming, and once it rebounds, this week's developments will fuel its climb, said Spencer Bogart of cryptocurrency and blockchain venture firm Blockchain Capital. ET, a steep decline from the December 2017 highs of around 19,500.
Artur Widak NurPhoto Getty Images, meanwhile, ethereum, litecoin, bitcoin cash and ripple are down for the year as well. cryptocurrency has had a big week. "We're down about 70 percent from our highs, so I think that bitcoin is close to bottoming and so is the rest of the market Bogart said Friday on cnbc's "Fast Money.
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Despite the news, bitcoin has hovered around 6,600 all week. On Thursday, cryptocurrency index fund leader. High-speed trading company Virtu Financial will also back the exchange. Bitcoin is down 57 percent in 2018. "Now that we have more visibility, more people talking about bitcoin, the time between an aggressive bear market and an aggressive bull market, I think, is going to shorten he said. Cnbc's, kate Rooney contributed to this report. Last week bitcoin, the largest cryptocurrency by market cap, fell below the 6,000 mark. Bogart, former bitcoin analyst and VP at Needham, called the developments "important building blocks to leading more institutional capital into the space." "I think it's going to take a little bit of time, but each of these news items is a piece of kindling that. "Weve done these kind of moves before he said. Now we are seeing the other side of that, when we have a week of news with TD, Ric Edelman and Yale, and it has almost no effect on price he said. He remained bullish on his forecast about the coin, despite a deep retrenchment in the digital currency's price.
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