Julian Hosp says that Bitcoin could hit $60,000 yet can dip low too
Dec 27, 2017 Posted / 2228 Views
While on one hand, people are quite fearful that cryptocurrency and Bitcoin market is going to crash soon, however, Cryptocurrency entrepreneur and president of TenX, Julian Hosp feels that Bitcoin's speedy rise isn't over yet, although the remark comes with a dilemma.
According to the statement given by Julian asserts that bitcoin can hit the $60,000 mark, and also there is a possibility that Bitcoin may reach far below the $5,000 mark. TenX, is basically a firm that wants to make it simpler for people to expense out with virtual currencies.
He says that the price dilemma could be considered as a fundamental question which is inquested in the last few days- as to how will the price of Bitcoin react in the short-term. Presently there are many analysts that have criticized the cryptocurrency space and have cautioned about the possibilities of risks and contributing in cryptocurrencies. According to many high profile critics Bitcoin market can crash soon because nothing understates their worth.
If we have to go by the prediction given by the co-founder of TenX that Bitcoin will rally to $45,000 mark soon from the present day price. And if the other forecast comes true than there will be a $10,000 collapse, it underlines the vulnerability in the market space of the world's biggest cryptocurrency.
Subsequent to a rapid growth and breaching a record price of $19,800 in the mid of December, bitcoin prices collapsed brutally. It was hard to see the fall as the digital currency almost lost $4000 in a 3 day period and then stopped further low. The price of the cryptocurrency also hit the $11,000 for some period and now has been regaining some of the place in last two days. But the last week which is labeled as the consolidation period by enthusiasts, made some cry with sore eyes.
Bitcoin was being traded at $15,185 as of last one day according to the web price indexes. Some analysts however maintain that this is actually a welcome drop. Many also remark that the industry insiders were anticipating the price of bitcoin to drop low, as the elevation in the value was dangerous and the past few months were only combating the hype cycle. Eventually, the dip is being stated as very healthy, and good for those planning to invest more in Bitcoins as there are 40-45 percent discount.
Hosp claims that bitcoin will fall another time soon. He remarks that "Not right now, but I think in the long run, we will always see a little bit of an up move, and then a dip down."
One thing that Hosp is hopeful in is that he thinks that crypto winter is not coming in the next couple of months, and mentions that if we evaluate the talks about one to two years, there is definitely going to be a big compression in the market. Hosp didn't share his thoughts on which cryptocurrency has the most longevity, but he did say that compression of the market will reduce their numbers.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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