One could be forgiven for forgetting about Bitcoin. In December it was all anyone could talk about, but since the $20,000 spike, it has languished around the $8,000 mark (it currently sits at $8659). However, Julian Hosp, co-founder and president of TenX, a crypto wallet, makes a decent case for why Bitcoin will likely increase in value again, if not reach $60,000, by the end of the year.
Yes: anyone who owns a crypto-based company has a vested interest in generating hype, so take it with a token of salt. But Hosp has correctly predicted Bitcoin trends before (at least he said as much on CNBC), so he’s probably worth listening too more than the crypto-punters of your office (who Warren Buffet somewhat hilariously/indirectly insulted back in May).
— CNBC (@CNBC) July 11, 2018
Hosp argues that movement on the regulatory front is a positive sign, and if a major positive event occurs, Bitcoin will hit $60,000 this year. Such an event, as reported by CCN, “Could be a country making a positive announcement about bitcoin or a bitcoin exchange traded fund coming to fruition.”
He also added that for his prediction to come true, Bitcoin would need to surpass the $10,000 mark by August. Should this happen, media coverage should then generate enough hype to make the $60,000 price possible.