ICO market will be back, and Ethereum to $200, BitMEX says

ICO market will be back, and Ethereum to $200, BitMEX says

Arthur Hayes, BitMEX CEO, affirmed that Initial Coin Offerings would return in not later than 18 months and with it, Ethereum will rally to at least $200, in an interview with Cointelegraph on Wednesday.

Hong Kong-based cryptocurrency exchange and trading platform BitMEX is one of the largest trading platforms in the world. Well, its CEO is confident that the ICO market will return between one and one and a half years.

“Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200,” says Hayes. “The timing of the ICO rebirth is 12 to 18 months out.”

Hayes explains that the use for Ether is primarily ICOs, so it is natural for Ethereum to be depressed as its principal factor is dead. However, everything will change once Initial Coin Offering returns.

Besides, security tokens and stablecoins will be new factors attracting investors in 2019. “While their fundamental raison d’etre is flawed, investors in this time of pain will latch onto anything they believe will be their ticket to easy riches.”

PwC sees more institutional players in Crypto by 2019

Continuing with new investors, PriceWaterHouse Hong Kong crypto leader Henri Arslanian is expecting that institutional players will enter the crypto industry in 2019.

In an interview with Bloomberg, Arslanian said that the crypto market is not dead but fully alive. After seeing social investors coming in 2017 and institutional players going into the crypto industry, Arslanian is confident that many more institutional players will turn into crypto investments.

According to Arslanian, new institutional investors will not only come to buy or sell crypto assets but also to invest and present their own solutions and applications for the industry.

PwC analyst expects “exciting things” for the crypto ecosystem in 2019 as noise is coming down and the market is more mature now. Investors understand that cryptos are not only Bitcoin fluctuations but a powerful technology for new projects.

The legislation is a game-changer as regulators and governments are now looking into cryptocurrencies and blockchain technologies. Arslanian also expects “many more big banks” to enter the crypto space.

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