This executive thinks Bitcoin can reach $60,000 by the end of the year

Bitcoin has been struggling as of late. All the positive price movement was followed up by a lack of volume, which ultimately led to the market being unable to sustain stable growth and start dropping again. July saw the currency slowly climb to $6700 USD levels, just to have all those gains lost in a couple of days of hard sell-offs. However, people remain bullish on the currency. One crypto startup executive and a Bitcoin bull thinks that all of this negative movement is temporary and that Bitcoin might reach the ranges of $60,000 USD this year.

Julian Hosp, president and co-founder of TenX, a crypto wallet creating company, spoke with CNBC during the RISE tech conference recently held in Hong Kong. During his address, Hosp had a “hindsight is 20-20” moment where he said that he saw Bitcoin reaching the levels of $5000 USD once the currency broke its December ATH’s of $20,000 USD.

“Back then, December, price was at $20,000 all-time high. I predicted for 2018, we’re going to see $5,000 and $60,000. So $5,000, we pretty much hit it, so let’s see if we can do the $60,000. I’m still quite confident,” he told CNBC’s Akiko Fujita. While Bitcoin price so far stopped short of his prediction at around $5700 USD, recent movements do suggest that $5k isn’t out of the question just yet.

When asked what could trigger such a massive spike, Hosp said that a “massive positive event” will be required (probably somewhere in Q3) to kickstart the rally necessary to reach the $60,000 USD mark in 2018. He added that said event could come in the form of a Bitcoin exchange-traded fund or a country announcing something that is “very, very positive for Bitcoin.” If such an event were to not happen, Hosp feels that Bitcoin would “definitely take a bit longer” to reach the mark he predicted.

Hosp concluded the interview by claiming that Bitcoin needs to reach $10,000 by the end of August.

“If we see over $10,000 by the end of August, we can see the $20,000, then the press, the media is going to come in, and we can still see the $60,000 this year,” he said.


  Join Our Telegram Channel or  
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

We will be happy to hear your thoughts

      Leave a reply