Cryptocurrency entrepreneur Julian Hosp says bitcoin’s rapid rise isn’t over yet. But there’s a catch.
“I think we’re going to see bitcoin hitting the $60,000 dollar mark, but I also think we’re going to see bitcoin hitting the $5,000 dollar mark,” said Hosp, co-founder and president of TenX, a firm that wants to make it easier for people to spend virtual currencies.
“The question is though, ‘Which one is it going to hit first?'” he said.
Numerous high-profile critics and several national governments have warned of the dangers of investing in cryptocurrencies, which they say are likely to crash because nothing underpins their value.
Hosp’s forecast would represent a $45,000 rally from the current price of bitcoin — or a $10,000 collapse, underscoring the volatility of the world’s largest cryptocurrency.