Hedge Fund CEO: Bitcoin rate of $ 60,000 in 2018 possible

Phillip Nunn has stated that he still believes Bitcoin will reach $ 60,000 this year. The CEO of The Blackmore Group and Wealth Chain Group today confirmed its January price guidance.

Many crypto projects will fail
Nunn spoke at the Tech Manchester event by KPMG on Thursday. He said he still believes in his January forecast. Earlier this year, he predicted that Bitcoin would reach both $ 6,000 and $ 60,000 in 2018.

Phillip Nunn firmly believes in the transformative power of blockchain technology. It goes so far that the state has the potential to disrupt any industry on the planet, making decentralized organizations the way forward. In a recent interview, Nunn said he's often talking to banks, financial institutions and hedge funds, and they all want to get involved in the cryptocurrency, but are struggling to find a suitable entry point.

So far, there is not yet the necessary infrastructure for the market entry of institutional players. However, companies like Coinbase and others are trying to change this with new products for financial institutions. Philipp Nunn believes that most of the digital assets will disappear in the coming years, with only part of today's top crypto currencies becoming market capitalized.