The current president and co-founder of cryptocurrency wallet TenX says that Bitcoin could still be on track for his $60k price prediction.
This might sound like pie in the sky comments from someone who is in the industry, and it sort of is.
However, keep in mind that when bitcoin was trading around $20k, this same person said that bitcoin would likely trade down to $5k in the near future.
At that point it would bottom and later hit $60k, within the same year.
By the way, this person's name is Julian Hosp, and as mentioned above, he is the co-founder and current president of cryptocurrency wallet TenX.
The full release can be found here:
https://www.ccn.com/crypto-wallet-founder-believes-bitcoin-could-hit-60000-this-year/
What would drive bitcoin prices up that much?
According to Hosp, it would take a major news announcement (obviously).
More specifically, clarity on the regulatory front or a country legalizing it as money could be possibilities.
Another possibility, and perhaps a more likely one, would be a physically backed bitcoin ETF launching.
There also could be a FOMO rally based on technicals.
Hosp says that if bitcoin can breach $10k by the end of August, FOMO and increased media coverage/hype could help push prices all the way to $60k by year's end.
Hear that? A $10k break by the end of August is what Hosp says is needed for moon time.
(Source: https://www.trustnodes.com/2017/08/12/tenx-price-skyrockets-40-crypto-debit-card-deliveries-begin)
What if we don't get the good news or bullish price action?
According to Hosp that $60k number will still eventually come, but it will take a while longer.
Specifically he says that if one of those positive news events doesn't occur this year, it will take "more time for bitcoin to reach $60k".
That sounds reasonable.
There you have it folks, another person within the industry calling for an absurdly high price within a very short amount of time.
The Bitmex CEO called for $50k by the end of this year as well.
Both make Tom Lee look conservative with his $25k call.
The good news is that we will be able to judge their calls rather quickly here as the end of the year is only 5 months away.
Stay informed my friends.
Image Source:
https://www.forbes.com/sites/cbovaird/2018/04/13/will-bitcoin-reach-25000-this-year/#3941ee142667
Follow me: @jrcornel
I dont know about $60,000 or even $25,000 but I am long term bullis on BTC and crypto more broadly.
But Julian Hosp, what a boss, Tenx PAY token for the win. I am a holder, and I am a big fan. The team is knowledgable, great public speakers, and the project seems important, particularly when you take their bigger picture into account: banking license, Comit network, etc.
TenX, lets go!
I agree. It is a very impressive project. Personally, I am thinking more around $10k by end of the year for bitcoin. I am more conservative though.
Honestly, if it was $10,000, yes that is "conservative" by most standards, but ISNT THAT CRAZY!? Crypto is so young still that its flagship (BTC) could nearly double in 6 months and we would all be like, "yeah, of course it did".
I was thinking $20,000-25,000 by end of year.
But as of Mar 19, 2018 I had said to myself BTC would be $30,000 by Dec 31 2018, so I am becoming more reserved as we move closer to Dec 31.
$60,000? Just write me a big check please!
💰🤑💰
I need to buy a few more first before that number hits.
6000000 wooow
After months of bear-market it is hard to imagine Bitcoin hitting 10k before the end of August. But, only 4-5 weeks were needed for Bitcoin to move from 6k to 20k in 2017, so anything is possible.
I believe that a legally back ETF might bring a big boost to the Bitcoin prices, just like the launch of the futures market had in the end of 2017.
What do you think personally @jrcornel?
Personally I think bitcoin will probably finish the year around $10k. I think we will get an ETF approved by then as well. If it is a physically backed ETF, that would drive a lot of demand for bitcoin and then we will have higher numbers like $15k-$25k in play by early 2019.
Thanks a lot for taking the time to answer!! :)
Waiting for the ETF and institutional investors to come. At least then we will see that rise.
For some reason they aren't coming just yet, perhaps they are doing so quietly.
It would be nice.
We can smell the mooncakes from here ladies and gents!
It's hard to know what to believe these days. Just a couple of days ago, I read an article by some "expert" who insisted that regulatory pressures would eventually force the price of BTC down to $100 because governments would not "tolerate" an alternative to fiat currencies to live unregulated if it reached a volume much above 1% of the total worldwide money supply. Then you can turn around and find someone certain that BTC is headed for $500K. And the arguments on either side seem plausible...
From where I am sitting, what cryptos need more than anything else is an effort to stop being so much "theoretical money" and a little more "something you can go down to the corner and buy a magazine and a coffee with." Get "real" people at street level involved, not just a bunch of blockchainiacs.
Agreed. It really is a coin flip at this point for many reasons. Though bitcoin has the most real world use cases vs. other coins even if it is not really all that much. Regulation is the biggest risk in my opinion. As long as they don't kill it, prices will likely go up.
Love some bullish news during this bearish cycle.
The wallet looks good we will try it out
Im so waiting to judge his prediction,
$60k price prediction looks really good for business.
I am sure if bitcoin can move that high other crypto will moon too.
I hope he is right lol.
That would be great.
Wouldn't that be 10x😎
Yep, nice work!
Anything is possible. We will only know who is right in a few months.
Bitcoin is a sleeping giant which has a tendency to rise any time. TenX co-founder thoughts is really needed to give more confidence to those who are half hearted due to bad patch in Bitcoin and crypto market. Thanks for sharing @jrcornel
Bitcoin gonna be always bitcoin. Prediction is correct.
Last few months have been a severe and f***** us all up. Even then I am willing to say that this can be a possibility. Certainty no, but possibility Yes!
The journey is more difficult than we might think. We have plenty of bag holder from December and they are just waiting on the sidelines to unload. That being said, once the FOMO sets in, it'll be a wildfire
good...!
The ETF will go through, its a Van Eck etf partnered with another firm, its backed by the CBOE and it will be insured if funds are lost, hacked or stolen.
The SEC will will grant this ETF!
I think it will as well. Though it may take few months of back and forth first.
I think it will as
Well. Though it may take few months
Of back and forth first.
- jrcornel
I'm a bot. I detect haiku.
https://bitcoinmagazine.com/articles/cboe-files-sec-bitcoin-etf/
Great, he should buy some then.
Why tell us? Why not use it to his advantage and profit. oh wait, that's exactly why he tells us - so people can buy and he can profit.
Haha very true.
I disagree. $60k BTC would take a hell of a huge piece of news. It could be done by a pump...but to have it legitimately go to $60k, we would need multiple pieces of good news. I would say that we would need positive news from a few countries as to it moving closer to legal use, as well as the continual development of cryptocurrency projects. I think it's fully possible...but we have to stop getting negative news, and start getting positive news. I actually don't think it's even possible for the news to not shit talk crypto. $60k bitcoin is far more likely than mainstream news not shitting all over it.
I agree. I don't think we get anywhere close to that level by the end of the year to be honest. I am in the $10k camp personally.
I think $10k is almost guaranteed...if it recovers at all. But I think $30k is possible...but I wouldn't make any bets. I also think it's possible that it could go down a lot further... I think it's all up in the air.
Personally, I don't think it's worth that much until they update it to lower the cost of transfers and increase the speed.
@jrcornel your post are really awesome
Maybe once we get Wall Street investing in crypto then I can see that price (maybe) but by the end of the year? No way. By the time Wall Street is investing so much that it would elevate the price of Bitcoin to 60k then I’m pretty sure something will have replaced Bitcoin.
Big statement coming in definitely this year end will be epic to see
Bitcoin has struggled to bounce back from $6,350, despite some positive indicators. The crypto market as a whole has not been able to pick up force to empower a rally in the next 48 hours. Based on the past three days, a bitcoin fall below the $6,000 mark is more probable.
Julian Hosp just like many others knows what he is talking about, personally I think $60k by the end of the year will be almost impossible, my prediction, since the start of the year, has always been $40k and just like Julian Hosp I think we are in the right path. News and improvements in the crypto world will make the speculation come back and a lot of FOMO with it, leading the prices to skyrocket just like they did on the end of last year.
As you mentioned, Julian Hosp prediction needs a $10k BTC price in august and I don´t think that will happen so early, that´s why I think his prediction is a little bit to bullish, but, of course $60k and much more will eventually be reached.
Yes very true bitcoin has the potential to reach more than 60k at the end of this year...no one knows what happens in future it can be much more than we expected.