Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: micko09 on July 13, 2018, 05:54:06 AM
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Crypto Wallet Founder Believes Bitcoin Could Hit $60,000 This Year
Cryptocurrency values have taken a hit as of late, but movement on the regulatory front has lifted many observers’ spirits. One crypto startup executive believes bitcoin’s price could hit $60,000 this year, despite its dip from a near $20,000 high in December to the $6,000 range.
Julian Hosp, co-founder and president of TenX, a crypto wallet, told CNBC during the RISE tech conference in Hong Kong that he expected to see bitcoin’s price fall to $5,000 when it reached its December highs, and he remains confident that a $60,000 price this year is feasible.
Positive Event Needed
Hosp acknowledged that a major positive event will be needed to achieve the $60,000 price this year. Such an event could be a country making a positive announcement about bitcoin or a bitcoin exchange traded fund coming to fruition.
Should such an event not occur, Hosp admitted it will take more time for bitcoin to reach $60,000. He said the price will need to surpass the $10,000 mark by August. Should this happen, media coverage will be positive, making the $60,000 price possible.
While many crypto observers view regulatory activity as positive, regulatory scrutiny has put downward pressure on cryptocurrency prices. Many observers were relieved when the U.S. Securities Exchange Commission stated this month that Ether and bitcoin are not securities.
Source: https://www.ccn.com/crypto-wallet-founder-believes-bitcoin-could-hit-60000-this-year/