Cryptocurrency entrepreneur Julian Host says that the rapid growth of bitcoins is not over yet. But there is a trap.
"I think we'll see bitcoins that reach $ 60,000, but I also think we'll see the bitcoin that reached the $ 5,000 mark," said Hos, co-founder, and president of TenX, a company that wants to make it easier for people to spend. virtual currencies.
"The question is," Which of them is going to be the first? ", He said.
Numerous high-profile critics and several national governments have warned about the dangers of investing in crypto-currencies, which they say could fail because nothing supports their value.
The Host's forecast will represent a $ 45,000 increase in the current bitcoin price, or a $ 10,000 collapse, underscoring the volatility of the world's largest cryptographic currency.
An extremely volatile asset
After the rally to a record level above $ 19,800 in mid-December, bitcoin prices collapsed last Friday. The digital currency lost a third of its value in a single day, falling below $ 11,000 for a short time before returning some of the lands it lost.
According to Coinbase, Bitcoin traded at $ 15,185 on Tuesday.
"For the experts that were in the market, it was really a nice flaw," said CNBC Hospital "Squawk Box."
He said industry experts expected Bitcoin's price to fall, given the "dangerous" increase in value he had seen in recent months.
"This fall was very, very healthy for us, and some of us used it to buy a little more because suddenly we had a discount of 40-45 percent to record levels," he added.
Hos said he was sure that bitcoin would fall again.
"Definitely," he said. "I do not believe that now, but I think in the end we'll always see a bit and then we'll fall."
Eventually 'Winter' is coming!
Hosp compared the current interest in bitcoins with the dotcom bubble, which started about 20 years ago, and warned that the consolidation of digital currencies is likely to take place in the future.
"I do not think the cryptographic winter will appear in the next few months, but I think if we look down for one or two years, there will definitely be a lot of pressure in the market," he said.
"I do not think it's a bubble that explodes and everyone loses their money, but I think that all currencies and all assets with very little use or value will be resolved," he said.
"The money will go to these assets in this space of cryptocurrencies that really add value, have new technologies and are used by people," he added.
TenX charges a bag and a card that are designed to use digital coins in transactions.
The host did not share his thoughts on which cryptographic currency has the longest durability but said that squeezing the market will reduce its number.
"I see bitcoins more than digital gold," he said, "and not the currency that will be used every day."