Bitcoin Price Prediction: Bitcoin could reach $60,000 in 2018 but another crash is coming
December 27, 2017 7:45 am
Bitcoin Price Prediction
Julian Hosp, co-founder, and president of TenX said:
“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.”
“The question is though, ‘Which one is it going to hit first?'”.
Various experts and the several national governments have warned about the dangers of investing in cryptocurrencies, which they describe as a crash since nothing can be used to stable their values.
Hosp’s budget would represent a $45,000 rally from the current price of the bitcoin – or a $10,000 collapse, underlying the volatility of the world’s largest cryptocurrency.
It is an unstable asset:
After surging a record high above $19,800 midway through December, bitcoin prices dropped last Friday. Bitcoin had fallen to $11,000 before regaining few of the ground it lost.
Bitcoin traded at $15,185 on Tuesday, according to our Price Chart.
“For experts that have been in the market, this was actually a welcome dip”.
“This dip for us was very, 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 told he is sure that bitcoin will fall once again.
“Definitely, I don’t think 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.”
The days are coming soon:
Hosp compares the current interest in Bitcoin to the Dotcom bubble that started 20 years ago and warned that digital consolidation might take place in the future.
“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.”
“I don’t think it’s going to be a bubble that’s just going to burst and everyone is going to lose their money, but I think it’s going to be that all the coins and all the assets with very little use or value are going to get sorted out.”
“The money is going to flow into those assets in this cryptocurrency space that really delivers value, have new technology, and are being used by people.”
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.
At the end he stated:
“I see bitcoin more as digital gold, rather than a currency that is going to be used on a daily basis.”