Digital currencies may be off their last year highs on the price front, but developments on the infrastructure and regulatory front continue to slowly move ahead.
“Back then, December, price was at $20,000 all-time high. 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,” Julian Hosp, president and co-founder of crypto wallet and card start-up TenX, said at the RISE tech conference in Hong Kong.
It’s true that a “massive positive event” would need to occur this year to get bitcoin to the $60,000 mark in 2018, Hosp acknowledged. He added that this “massive positive event” could come in the form of a bitcoin exchange-traded fund or a country announcing something that is “very, very positive for bitcoin.”
“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,” he said.
Most of the pressure faced by digital currencies this year has been due to the space coming under regulatory scrutiny. Still, there was some relief after the Securities and Exchange Commission clarified last month that bitcoin and ether were not securities.Trade crypto now
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