- Bitcoin would possibly hit $60,000 this year despite its current price, Julian Hosp, co-founder of TenX, holds.
- Joseph Lubin said that Ethereum is more concern about infrastructure than price movement.
The president and co-founder of TenX – a cryptocurrency wallet and card firm, Julian Hosp, said she is still confident that Bitcoin could hit $60,000 before this year runs out despites its current price of about $6000.
During the RISE tech conference which took place in Hong Kong, Julian said:
“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.”
Data from marketcoinprice.com revealed that though Bitcoin – the largest coin by market cap – has not yet dropped to $5,000, it dropped to it all year lowest level of about $5,700 which is relatively close.
Since then, Bitcoin has recovered from some of its losses, trading at press time at about $6,38.2, according to marketcoinprice.com. Nevertheless, the price of the currency has fallen by more than 67% beyond its all-time high price of close to $20,000 last year December.
For Julian’s prediction to be realized, there must be a “massive positive event” in the crypto world this year. Julian stated that the event could occur in the form of either a country or BTC exchange-traded fund announcing a “very, very positive [thing] for bitcoin.”
Julian, however, stated that should in case such event does not take place this year, then it would “definitely take a bit longer” for Bitcoin to ever hit $60,000.
He added that considering that 2018 has gone halfway, for bitcoin to get to the $60,000 mark this year, it must be at least $10,000 by August. He said:
“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.”
Some believed that the present pressure within the crypto world is caused by increasing investigations from regulators. However, Joseph Lubin, Ethereum co-founder, and ConsenSys founder said that Ethereum isn’t worried about price but aiming at building infrastructure. He said:
“We let price take care of itself.”
According to data from marketcoinprice.com, Ether is trading at $441.54, at press time.