Julian Hosp, co-founder and president of crypto startup TenX, says he’s still “quite confident” that Bitcoin (BTC) can hit $60,000 in 2018.
During an interview at the Rise conference in Hong Kong, Hosp told Squawk Box co-host Akiko Fujita that he still stands by the initial 2018 forecast he made in December for the leading cryptocurrency:
"Back then, December, price was at a $20,000 all-time high. I predicted for 2018, we're going to see $5,000 and $60,000. So $5,000, we’ve pretty much hit it, so let's see if we can do the $60,000. I'm still quite confident."
Bitcoin has not yet plummeted as low as $5,000 this year — a price point that would bring it back to its valuation in September 2017. However, the cryptocurrency’s recent downtrend is showing bearish signs, having dipped to around $5,880 in late June:
Hosp believes the $60,000 mark could be a reality this year assuming there is a "massive positive event" — for example, a Bitcoin exchange traded fund (ETF), or a country announcing something that is "very, very positive for Bitcoin." If this fails to happen, he conceded, the major upswing could take “a bit longer.”
✍️✍️✍️✍️✍️✍️✍️✍️✍️✍️✍️✍️✍️
Comment What You Think 🙏