Julian Hosp predict Bitcoin could hit $60000 in coming year but another crash is on way. He assumes very healthy price of digital currency but ending up the talk saying crypto winter is coming right now.
In this regard, Hosp who is the co-founder & president of TenX has stated
I think we’re going to see bitcoin hitting the $60,000 mark, but I also think we’re going to see bitcoin hitting the $5,000 mark,
Tenex platform is a cryptocurrency wallet having debit card system in use which makes cryptocurrency spendable at any time.
He further added “which iione is it going to hit first?”
However, Bitcoin’s high volatility from December Mid has surprised majority of investors and traders. Bitcoin which has crossed $19k has dropped badly last Friday. Bitcoin was like a dancing up & down between value $10k-$12k, losing third of its value in a single day on December 22.
Hosp told CNBC “For experts that have been in the market, this was actually a welcome dip”. He further unveiled the dangerous elevation of Bitcoin value by industry insiders that speaks about bitcoin to fall.
Consequently, he assumed “Bitcoin to fall again” & added ” This dip for us was very healthy, and some of us have used it to buy a little bit more because suddenly we had 40-45 percent discount to all-time highs,
Hosp is definite about Bitcoin price rise in the long run and then a dip down again.
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Crypto winter is coming
Bitcoin is going through the similar condition of dotcom bubble which has occurred roughly from 1997 – 2001. He is definite about currency consolidation to occur in coming year.
I don’t think crypto winter is going to come in the next couple of months, but I think if we look down one to two years there is definitely going to be a big compression in the market. he stated
Bitcoin won’t be bubble that is going to burst he said
Where most traders and experts say, it a bubble that may burst and give worth to a real money. Hosp in contrast said “it won’t be bubble but its going to be worth all the coins” & all the assets with very little value are going to get sorted out.
Hosp seems Bitcoin is digital & feels that the money will get into the assets which has new technology to be used by people. Although, there wasn’t a cryptocurrency in particular that he was concerned. But Hosp converse about the compression of the market will reduce their numbers.