Bitcoin Bear Market to Last for 18 Months, BitMEX Says

Arthur Hayes is not super optimistic about Bitcoin in the nearest future
01 November 2018   183

The price of bitcoin and trading volumes may continue to fall for another one and a half years. Arthur Hayes, head of the BitMEX cryptocurrency derivatives trading platform, expressed this opinion in an interview with Yahoo Finance.

My view is the volatility environment that exists right now could persist for another 12 to 18 months, the flatness. I’m just basing it off my previous experience. I started in bitcoin in 2013 when the price went from $250 to $1,300 and then 2014 to 2015 was sort of the nuclear bear market. Price crashed, volume crashed — very, very difficult to make money.

Arthur Hayes

He added that trading volumes may be even lower than now.

While the head of BitMEX sees a bearish mood in the market, other representatives of the industry are still more optimistic

The market is blowing off some steam right now. I think the market is probably going through some healthy consolidation but I do believe the long-term trend will be greater adoption of bitcoin and similar technologies.

Will Warren

Co-founder, 0x

The head of the Hacera project Jonathan Levy agrees with this position. According to him, Bitcoin is undoubtedly getting cheaper, but he himself and the underlying technologies are used more and more often. 

The price of bitcoin is undoubtedly in a bear market but in the application of bitcoin and other blockchain projects we are in fact in a bull market. Most of the EU banks are actively investing in blockchain and that all originally stems from bitcoin.

Jonathan Levi

Head, Hacera

Despite the decline in trading volumes and volatility, contracts for an amount in excess of $ 1 billion are concluded on BitMEX daily. Earlier this year, the amount of contracts on the platform exceeded $ 8.5 billion per day. 

G Suite & Target Twitter Accounts Hacked

Scammers hacked verified G Suite and Target Twitter account to use it for another fake "crypto giveaway"; 5.8634 bitcoins received
14 November 2018   97

Twitter accounts of one of the leaders in US retail Target and Google G Suite services were hacked by unknown, who immediately announced the free giveaway of bitcoins. The legitimate owners returned access to their pages quickly enough, but fraudsters still managed to get about $ 30,000.

After hacking the account G Suite, which has more than 800k subscribers, announced the distribution of 10 000 BTC. As reported by The Next Web, this post was deleted after 10 minutes. At the moment, Google has not commented on the situation.

Scammers message
Scammers message

Account Target, which has a little less than 2M subscribers, announced the distribution of 5 000 BTC.

Representatives Target confirmed hack of account, starting an investigation into the circumstances of the incident.

Early this morning, our Twitter account was inappropriately accessed. The access lasted for approx. half an hour & one fake tweet was posted during that time about a bitcoin scam. We have regained control of the account, are in close contact with Twitter & are investigating now.

As exploers show, there were no transfers to the of hackers of the G Suite account. However, with the help of a post on the Target page, attackers were able to get 5.8634 bitcoins.