{"id":563021,"date":"2020-08-03T18:29:03","date_gmt":"2020-08-03T15:29:03","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=563021"},"modified":"2020-08-03T19:05:10","modified_gmt":"2020-08-03T16:05:10","slug":"ethereums-eth-next-stop-is-500-bitmex-ceo","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereums-eth-next-stop-is-500-bitmex-ceo\/","title":{"rendered":"Ethereum&#8217;s (ETH) Next Stop is $500 &#8211; Bitmex CEO"},"content":{"rendered":"<p><strong>In summary:<\/strong><\/p>\n<ul>\n<li><strong>Bitmex Co-Founder and CEO, Arthur Hayes, sees Ethereum hitting $500 in the near future.\u00a0<\/strong><\/li>\n<li><strong>Ethereum continues to climb towards $400 even after its latest dip to $325.\u00a0<\/strong><\/li>\n<li><strong>Trading of ETH has become popular as Ethereum continues to benefit from DeFi and the progress of the ETH2.0 upgrade.\u00a0<\/strong><\/li>\n<\/ul>\n<p>The Co-Founder and CEO of Bitmex, Arthur Hayes, is for the idea that Ethereum (ETH) could soon visit the $500 price area in the near future. Mr. Hayes made the comments via Twitter and as <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/latest-ethereum-eth-news\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum (ETH)<\/a> attempted to break the $400 price ceiling.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">$399 are you outta your mind. mETH on sale next stop $500. <a href=\"https:\/\/twitter.com\/hashtag\/walterwhite?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#walterwhite<\/a> <a href=\"https:\/\/t.co\/qYmCq63s7K\" rel=\"nofollow\">pic.twitter.com\/qYmCq63s7K<\/a><\/p>\n<p>&mdash; Arthur Hayes (@CryptoHayes) <a href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1289737131233968128?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 2, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Ethereum Recovers from the Fast &amp; Furious Dip to $325<\/h2>\n<p>Mr. Hayes&#8217; comments were before Ethereum suffered the gut-wrenching drop from $415 to $325 that <a href=\"https:\/\/en.ethereumworldnews.com\/btc-and-eth-drop-fast-furious-catching-crypto-traders-off-guard\/\" target=\"_blank\" rel=\"noopener noreferrer\">caught many crypto traders off-guard<\/a>. Ethereum has since regained its bullish momentum and is once again flirting with the $390 &#8211; $400 price zone.<\/p>\n<p>A quick glance at the daily ETH\/USDT reveals that the digital asset is once again in bullish territory as shall be elaborated with the help of the daily chart.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd.jpg\"><img class=\"aligncenter size-full wp-image-563023\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd.jpg\" alt=\"\" width=\"998\" height=\"509\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd.jpg 998w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd-300x153.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd-770x393.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd-240x122.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd-717x366.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/08\/ETHUSDT-August-3rd-150x77.jpg 150w\" sizes=\"(max-width: 998px) 100vw, 998px\" title=\"\"><\/a><\/p>\n<p>From the ETH\/USDT chart, the following observations can be made.<\/p>\n<ul>\n<li>The <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-bullish-climb-could-see-eth-retest-the-2019-high-of-365\/\" target=\"_blank\" rel=\"noopener noreferrer\">June 2019 peak of $365<\/a> is now acting as support for Ethereum.<\/li>\n<li>$325 is also a strong support zone for Ethereum as this was where ETH bounced during the dip a few hours ago.<\/li>\n<li>Trade volume is in the green despite the MFI pointing towards exhaustion at its present value of 101.<\/li>\n<li>MACD is also exhibiting bullishness despite its moving averages being over-extended.<\/li>\n<li>For Mr. Hayes prediction to play out, Ethereum has to break the $400 resistance level and turn it into a support zone.<\/li>\n<li>If Ethereum breaks $400, the next area of considerable resistance for Ethereum would be around $512.<\/li>\n<\/ul>\n<h2>Conclusion<\/h2>\n<p>Summing it up, Bitmex Co-Founder and CEO, Arthur Hayes, has put forth one scenario of Ethereum continuing on its upward trajectory and testing the $500 price level. A quick glance at the daily ETH\/USDT chart reveals that Ethereum is still in bullish territory despite its recent dip to $325.<\/p>\n<p>Furthermore, a clean break above $400 could set in motion the trajectory needed for Ethereum to fulfill Mr. Hayes&#8217; prediction.<\/p>\n<p>Additionally, <a href=\"https:\/\/en.ethereumworldnews.com\/ethereums-eth-correlation-to-bitcoin-is-gradually-decreasing\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ethereum&#8217;s momentum<\/a> in the crypto markets is as a result of the popularity of DeFi and the anticipation of the ETH2.0 upgrade. Proof of high DeFi activity can be seen in <a href=\"https:\/\/blog.coinbase.com\/how-coinbase-handled-eth-network-congestion-on-august-1-2020-f4841b6510fb\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">a recent Coinbase report<\/a> that explained how its team handled ETH network congestion on August 1st.<\/p>\n<p>As with all analyses of Ethereum, traders and investors are advised to use adequate stop losses to protect trading capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In summary: Bitmex Co-Founder and CEO, Arthur Hayes, sees Ethereum hitting $500 in the near future.\u00a0 Ethereum continues to climb towards $400 even after its latest dip to $325.\u00a0 Trading of ETH has become popular as Ethereum continues to benefit from DeFi and the progress of the ETH2.0 upgrade.\u00a0 The Co-Founder and CEO of Bitmex, Arthur Hayes, is for the idea that Ethereum (ETH) could soon visit the $500 price area in the near future. Mr. Hayes made the comments [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":561910,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823],"tags":[2634,271,1322],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563021"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=563021"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/561910"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=563021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=563021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=563021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}