Julian Hosp, co-founder and president of crypto startup , says he’s still “quite confident” that (BTC) can hit $60,000 in 2018, reports Wednesday, July 11.
During an at the Rise conference in , Hosp told Squawk Box co-host Akiko Fujita that he still stands by the initial 2018 he made in December for the leading cryptocurrency:
"Back then, December, price was at a 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 . However, the cryptocurrency’s is showing bearish signs, having dipped to around $5,880 in late June:
bitcoin price chart. Source: Cointelegraph
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 (), 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.”
Weighing in on recent regulatory crackdowns that may be having a negative impact on the crypto markets — with Fujita mentioning as a prime — Hosp said he thought that the “perfect path” for crypto-specific regulation would be clarity over what is allowed, rather than “what is forbidden.”
In his forecast for 2018, Hosp had said that a rollercoaster of price highs and lows will remain native to crypto until the space sifts through the superfluous projects and rallies behind those that offer tangible uses and real value.
Last week, Fundstrat’s also his previous prediction that bitcoin would hit $25,000 by the end of this year, clarifying that a more recent prediction of $22,000 is not a refutation of his other forecast.
bitcoin is trading at to press time, down less than half a percent on the day, bringing its weekly losses to just under 5 percent.
Published at Wed, 11 Jul 2018 14:59:00 +0000
