Bitcoin prices could hit $60,000 in the year 2018, but another crash is expected
Julian Hosp, the cryptocurrency entrepreneur says that bitcoin’s rapid rise is not over yet, it is expected to hit $ 60,000 in New Year 2018. The co-founder and president of Tenx said that “I think we are going to see bitcoin would grab the $60,000 mark, but I also think we are going to see bitcoin reaching the $5,000 mark.” Tenx is a firm that wants to make it easier for people to spend virtual currencies.
He said that, “But the question is though, which one is it going to hit first?”
As we reported earlier, numerous high-profile critics as well as various national governments have already warned about the dangers of investing in the digital cryptocurrencies which they said that it is likely to crash due to nothing underpins their value.
It would represent a $45,000 rally from the bitcoin’s current price or a $10,000 collapse, that underscoring the volatility of the world’s biggest cryptocurrency.
Bitcoin could hit $60,000 in 2018
After rallying to register a high amount above $ 19,800 midway through the month of December 2017, the prices of bitcoin collapsed last Friday. As a result, in a single day, the digital currency lost a third of its value, by sinking below $11,000 before retaining some of the ground it lost.
As per the news given by Coinbase, bitcoin traded at $15,185 on Tuesday. “For all the experts who have been in the market, this was considered to be a welcome dip”, Hosp said.
He further told that, insiders from the industry expected that the bitcoin’s price to slow down which is assumed to give the dangerous elevation of the value which has been recorded over the past few months.
Hosp added that, “This dip for us was very positive, healthy and some of us have thinking to buy a little bit as we had 40-45 % discounts to all-time highs.” But he is certain that it will fall again.
He said, “Right now I don’t think it, but in the long run we will always capture a little bit of an up move & then a dip down in the values of bitcoin.”