Arthur Hayes Predicts ICO Revival and Aggressive Ethereum Rebound

Are ICOs Making a Comeback?

According to BitMEX CEO Arthur Hayes, the world of Initial Coin Offerings (ICOs) might just rise from the ashes in the next 12 to 18 months. In a recent interview with Cointelegraph Japan, Hayes expressed optimism for the once-thriving ICO market, which he describes as ‘dead’ at the moment.

The Role of Ethereum in ICOs

Hayes argues that the use case for Ethereum (ETH) is heavily tied to ICOs. When the ICO market kicks back into gear, he believes Ether will see a dramatic rebound. “When the ICO market returns, Ether will quickly test $200,” Hayes confidently stated. It’s a bold prediction, especially considering Ethereum’s rollercoaster ride through 2018.

Current Market Conditions

Despite the ongoing turbulence in the cryptocurrency markets, ETH/USD has remained relatively stable within a narrow range of $129, marking a significant uptick from its previous lows. However, let’s not gloss over the fact that Ethereum suffered losses exceeding 90% in 2018. It’s like watching your favorite sports team go from championship contenders to the bench warmers in a single season.

The Future of Stablecoins

Before we all jump aboard the ICO train, Hayes suggests that the upcoming spotlight might actually shine on stablecoins and security tokens. “These will prove attractive sirens for investors in 2019,” he remarked. It seems investors, in their quest for ‘easy riches,’ might be temporarily swayed by these new financial instruments, even if their fundamental basis is questionable.

Bitcoin’s Narrow Price Range

Shifting gears, Hayes has predictions for Bitcoin (BTC) as well, forecasting a limited trading corridor between $1,000 and $10,000 for the upcoming year. While some analysts posit that institutional investments could drastically inflate Bitcoin prices, the king of cryptocurrencies might be stuck in a tight spot until clearer trends emerge.

Decentralized Application Developments

Interestingly, while all this speculation was buzzing around, Justin Sun, the CEO of the TRON platform, added more fuel to the fire by claiming that Ethereum is “slowly imploding.” Looks like the only thing that’s truly imploding is the level of trust some have in these ever-changing markets!