The co-founder of TenX Julian Hosp is standing by his prediction that Bitcoin will hit $60,000 in 2018.
“I predicted for 2018, we’re going to see $5,000 and $60,000. So $5,000, we pretty much hit it, so let’s see if we can do the $60,000. I’m still quite confident,” Hosp told CNBC.
Hosp says extremely positive news on Bitcoin or a “massive event” such as an announcement of a Bitcoin ETF is what’s needed to trigger a sharp rise in the price.
To set things in motion, he believes Bitcoin likely needs to pass $10,000 by the end of August. “If we see over $10,000 by the end of August, we can see the $20,000, then the press, the media is going to come in, and we can still see the $60,000 this year.”
Ethereum co-founder Joseph Lubin is also talking about the future of the crypto market and says the market will take care of itself one way or another.
“If price is high or if price shoots up and down, it’s actually great for us because it draws attention to our ecosystem, it draws entrepreneurs, it draws technologists and all of that interest drive fundamental value,” says Lubin.
The CEO of Binance Changpeng Zhao is also bullish on Bitcoin, and recently said that all you have to do is compare Bitcoin’s volume this year to its volume one year ago to see how far the market has come.
BitMEX CEO Arthur Hayes reached a similar conclusion in June. He believes that a Bitcoin ETF, if approved by the Securities and Exchange Commission, could trigger a bull run and push Bitcoin to $20,000 and then to $50,000 by the end of the year.
Bitcoin is trading at $6,432 on CoinMarketCap, at time of publishing.