Revisiting his prior price forecast, Hosp elaborated that “Back then, December, price was at a $20,000 all-time high. I predicted for 2018, we’re going to see $5,000 and $60,000. So $5,000, we’ve pretty much hit it, so let’s see if we can do the $60,000. I’m still quite confident.”
While Bitcoin has yet to touch $5,000 USD in 2018, the cryptocurrency did swing as low as $5,880 USD in June.
Hosp elucidated that he believes Bitcoin could reach $60,000 USD by year-end in the wake of a ‘massive positive event’ – noting that many announcements – such as positive regulatory news – could propel the pre-eminent cryptocurrency past its all-time high.
Hosp’s venture, TenX, began its existence as OneBit – a payment card tethered to a Bitcoin wallet. As TenX, the company operates as a payment system that comprises a wallet, physical debit card, bank account, and ATM access.
Hosp has previously iterated that while Bitcoin may continue to reach a new all-time high by the end of the year, the pre-eminent cryptocurrency will continue to meet volatility that will drive its price both upwards and downwards.
Hosp’s enthusiasm meets mixed sentiment – earlier this month, Fundstrat’s Tom Lee lowered his year-end prediction, positing that Bitcoin will only touch $22,000 USD in place of $25,000 USD.
Elsewhere, other leading cryptocurrency figures have remained hopeful. Cardano’s Charles Hoskinson and Coinbase’s Brian Armstrong recently renewed their faith in cryptocurrency market, while BKCM CEO Brian Kelly issued his optimism as well.
At present, things remain tepid in a gloomy week for major cryptocurrencies. Bitcoin is down by -3.17% day-on-day, and presently trades at $6,194.75 USD.