Bitcoin's price could reach 60,000 U.S. dollars in 2018, but it will still face a wave of plunges
Julian Hoshope, cryptocurrency entrepreneur, thinks the bitcoin boom is not over, but there is still a sharp fall.
"I think Bitcoin can reach a price point of 60,000 U.S. dollars, but I also think that bitcoin will hit 5,000 U.S. dollars," Hoshope, co-founder and president of TenX, said his company is committed to People can spend their virtual currency more easily.
Hoshope's prediction not only includes Bitcoin may go straight from the current price of 45,000 US dollars - may fall below 10,000 US dollars, which also highlighted to us that plus the largest cryptocurrency The price has a huge fluctuation.
A very volatile asset
In mid-December, as bitcoin hit a record $ 19,800, bitcoin prices plunged on last Friday and the digital currency lost one-third of its market value in a day and prices plunged to 1 Thousands of thousands of US dollars then gradually right up, up and down in the support level shocks.
According to Coinbase, Bitcoin traded at $ 15,185 on Tuesday.
'Winter' is coming?
Hoshpur linked the benefits of today's Bitcoin with the dot-com bubble that started 20 years ago and warned further downgrades of digital currency prices in the future.
Hoshope did not share his insights on the long-term hold of that currency, but said the market will surely eliminate many currencies in the bubble.
"The question is" which one is the first to reach the point, "he continued.Many prominent personalities have voiced criticism, while some governments have warned that they will risk investing in cryptocurrencies because cryptocurrencies with no value target are highly vulnerable to collapse.
Hoshope's prediction not only includes Bitcoin may go straight from the current price of 45,000 US dollars - may fall below 10,000 US dollars, which also highlighted to us that plus the largest cryptocurrency The price has a huge fluctuation.
A very volatile asset
In mid-December, as bitcoin hit a record $ 19,800, bitcoin prices plunged on last Friday and the digital currency lost one-third of its market value in a day and prices plunged to 1 Thousands of thousands of US dollars then gradually right up, up and down in the support level shocks.
According to Coinbase, Bitcoin traded at $ 15,185 on Tuesday.
"For some of the experts in the market, this is a perfect bargain-hunting opportunity," Hossper said on CNBC's "Squawk BOx."He believes insiders in the industry have been expecting a drop in bitcoin prices since bitcoin prices were in a "dangerous" position in previous months.
"This plunge was very, very healthy for us and some of us bought a lot of bitcoin because we had a 4 to 5% discount on Bitcoin at the top of the price point Chance, "he added later.Hoshope is pretty sure that the price of bitcoin will drop again
"Clearly," he said, "I do not think it is the present, but in the long run we can always see a drop after bitcoin prices have soared."
'Winter' is coming?
Hoshpur linked the benefits of today's Bitcoin with the dot-com bubble that started 20 years ago and warned further downgrades of digital currency prices in the future.
"I do not think the winter of cryptocurrency will come in the next few months, but if we look one or two years later, there will surely be a huge crowding-out of the market," he said.
"I do not think that now the bubble of cryptocurrencies will break right away, causing everyone to lose money, but I think those currencies and assets that have no value or usefulness will eventually be eliminated," he continued.
"Now more and more money has flowed into cryptocurrencies that have real value, new technology, and more people are using."TenX profits by charging for the wallets and bank cards it issues, which are designed to make more digital money available for trading.
"I think bitcoin is more of a digital gold," he said. "It's not money for everyday use."
