BitMEX CEO: ICO will return within “18 months” and Ethereum will “rebound aggressively”

The crypto market is still grappling to come to terms with the bearish trend that has dominated most of 2018. While it gained some sort of stability last week, the signs of a bull seem slim and crypto enthusiasts are hoping that 2019 will bring some good news and lay the foundation for a much better run the next year. At present things seem to be all gloomy for the crypto industry and some experts have already started writing a premature obituary for the crypto industry. ICOs also faced the brunt of the bearish trend this year. But things are not as bad as they appear on the surface. Arthur HayesBitMEX CEO predicted a return to form for 2018’s ‘dead’ ICO markets.

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

Ethereum has witnessed losses in the range of around 90 percent in 2018 and has bent toppled by XRP from the number 2 position in terms of market capitalization. But now with the markets showing some sort of stability, Ethereum has been hovering around the $130 mark.

Hayes goes on to add that stablecoins will have their time under the sun before we will witness an ICO resurgence.

“Security tokens and stablecoins will prove to be an attractive proposition for 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,” he adds.

Also read: Crypto mining giant Bitmain and major crypto exchange Huobi have reportedly confirmed plans to lay off staff amid the 2018 price rout of the crypto markets