President of TenX maintains its prediction of 60,000 USD for Bitcoin at the end of the year

Source : cryptocoinmastery.com

Throughout the year, several experts and investors issue a prediction about Bitcoin prices. On that occasion, who raised his voice was Julian Hosp, co-founder, and president of TenX, a crypto startup that works like a portable wallet on mobile devices.

TenX Bitcoin

As reported by CNBC on Wednesday, July 11, Hosp says it still has "enough confidence" that Bitcoin (BTC) can reach USD 60,000 per unit by the end of 2018.

The TenX president was interviewed during the Rise conference in Hong Kong by Akiko Fujita, and at the meeting, he reaffirmed his position on the price of the first crypto active that he issued in December after the Bitcoin broke the $ 19,000 mark.

In their conversation with Akiko Fujita, they highlighted the following lines:

"In December, the price was at a record high of 20,000 USD. I predicted that by 2018, we would see 5,000 USD and 60,000 USD brands. The 5,000, almost hit them, so let's see if we can reach the 60,000 USD. I'm still pretty sure. "

At least for now, the first crypto active has not trod the 5,000 USD this year, reaching this mark would make it quote the same as in September 2017. However, if we were close to seeing this figure during the last bearish cycles, in which Bitcoin came down close to $ 5,880 per token.

The possibility of reaching USD 60,000 this year, according to Hosp, is maintained if there is a massive event that falls on the rise of all the capitalization of the crypto market. For example, a Bitcoin exchange-traded fund (ETF) or a country that announces something that is "very, very positive for the first crypto active". If this does not happen, he admitted, the big recovery could take "a little more".

There was a moment during the conversation in which the issue of regulations was discussed, at that time Fujita mentioned Japan as an example that the scrutinies may be having a negative impact on the prices of the crypto-market, to which Hosp said the solution it is more in regulating what is allowed instead of what is forbidden.

In the previously mentioned forecast for 2018, Hosp pointed out that volatility will continue to be something that characterized the market. Which means that whatever happens, the ecosystem will always have bearish cycles. Achieving stability in the ecosystem is much more difficult than getting prices to rise with some measure or massive event.

Like Hosp, many have defended their predictions. For example, Tom Lee of Fundstrat said last week that he still maintained his BTC forecast would reach USD25,000 by the end of the year. He also clarified that his latest USD 22,000 prediction is not a rebuttal of his earlier statements.

At the time of writing, Bitcoin has a value of USD 6,207 per unit, according to the CoinMarketCap price index, which represents a 3% drop in capitalization in the last 24 hours.

Now, if it were to be partial to any of these predictions, the correct thing, according to the author of these lines, would be Hosp's opinion. The recovery will not come by itself, except with figures as high as 60,000 USD, everything will depend on regulatory measures or events that can lead to this scenario, as it was the case of the sale of futures last December.