Amidst the current downward slope in the price of Bitcoin and other altcoins that has somewhat reduced the confidence of cryptocurrency enthusiasts due to the over 60% decrease in its price and other related activities. President and co-founder of cryptocurrency start-up company TenX, Julian Hosp is brimming with confidence, stating that as a significant player in the industry, he predicted the fall of the price before the time, and he’s also very sure that Bitcoin will rise above all others, even surpassing its previous peak and reach a staggering height of $60,000 in 2018.
Optimism or Hope
These are challenging times to be a bitcoin operator as the climate is not so encouraging, prices are at an all-time low, and the morale and confidence of investors and customers alike are not so encouraging.
The price of Bitcoin slide below $6,000, from about $20,000 at the highest of its pedestal, due to the drastic drop in its price of the exchange, investors are scared about the future of the coin, and some are even opting out. Warren Buffet, the fourth richest man in the world, weighed in on the situation and describe bitcoin and alternative cryptos as “rat poison.” But one man that is very optimistic about the price and future of bitcoin is TenX President Julian Hosp. Mr. Hosp is not moved by the fall of the price and highlighted that it is part of the dynamism of the market, prices naturally rise and fall.
At the RISE tech conference in Hong Kong, Julian said:
“Back then in December, the price was about $20,000 an all-time high, and I predicted for 2018, we are going to see $5000 and $60,000. So $5000 we pretty much hit, so let’s see if we can do the $60,000, I’m still quite confident.”
Though the price of bitcoin has dropped drastically from what we used to know, it has not fallen to $5000; it dropped to its lowest level at $5,700.
Since then, bitcoin has been rising steadily, trading as at the 1st of July was at $6,382, according to coinmarketcap.com, mean the price is getting the needed weight, though it still fell below the standard expectations and far from the prediction of Mr. Hosp.
Though, some have attributed the pressure within the cryptocurrency sector to the activities of regulators and their constant investigation, though some are not bothered about the prices, like the co-founder of Ethereum Joseph Lubin.
For Julian prediction to be realized, there must be a “massive positive event” in the crypto world this year, without the positive energy, observers are saying the prediction is just a pipe dream, though most are very optimistic.