ICO – Initial Coin Offering market is expected to return within 18 months. After the return of the ICO market, Ethereum (ETH) will be rebounding intensely as per the claims of BitMEX CEO – Arthur Hayes. BitMEX is a famous cryptocurrency trading platform based in Hong Kong that has recently become one of the largest trading platforms in the world in terms of the overall volume.
Giving an exclusive interview, Arthur Hayes says, “The use case for Ethereum is majorly the ICOs. However, the ICO market is currently in the dead state. However, once the ICO market rebounds, Ethereum will rebound instantly. With the return of the ICO market, Ether will be quickly testing $200. The approximate timing of the ICO rebirth is expected to be around 12 to 18 months.”
Hayes released the statement after the rare stable day across the global cryptocurrency markets. In the given market stability, ETH/USD remained within the range –within one percent of $129 after getting doubled in the week. In the short-term market, one of the top performers –the Altcoin has been observing major losses of more than 90 percent in the given year.