According to BitMEX CEO Arthur Hayes, Initial coin offerings (ICO) will make a return within “18 months,” which will cause Ethereum (ETH) to “rebound aggressively,” in the crypto market space.
BitMEX, a cryptocurrency trading platform based in Hong-Kong, in terms of trading volume is one of the world’s largest trading platforms.
Adding further, Hayes said that the Ether use case is primarily ICOs, but the ICO market is dead right now. When new issues arise in the ICO market, then Ether will rebound aggressively, reaching $200 a token. It takes 12 to 18 months out for an ICO’s rebirth.
Hayes announcement follows the turbulence cryptocurrency markets are in currently, with ETH/USD staying in the 1 percent range of $129 after doubling in a week. Altcoin, which was once the largest and one of the top short-term performers has seen over 90 percent losses this year.
Hayes predicts that in the coming 12-18 months, stablecoins will have their fair share of the limelight before an ICO resurgence occurs. Continuing further, Hayes said that tokens as security and stablecoins will attract investors in 2019, as their fundamental raison d’etre is flawed. Investors in times of crisis latch onto anything they believe will earn them riches.
He did not elaborate much further on technicalities if that market will implode just like the 2017 ICO boom. But Hayes did suggest that the Bitcoin (BTC) will have a fairly small trading corridor next year — between $1,000 and $10,000.