After the plunge 67%, the founder said: Bitcoin will rise to $60,000 at the end of the year.
In some areas, investors still have a positive attitude towards cryptocurrencies.
Julian Hosp, co-founder of cryptocurrency wallet and card startup TenX, said: "In December 2017, the price of bitcoin was approaching a record high of $20,000 each. I expect the price of bitcoin should be at 5,000 per 2018. The dollar is between $60,000. The possibility of bitcoin falling to $5,000 still exists, and it is very likely. We mainly look at the possibility that bitcoin prices will rise to $60,000 per bit. I am still very confident with $60,000."
Although Bitcoin has not fallen to $50,000, it is relatively close. According to the CoinDesk website, the lowest point of Bitcoin this year fell to $5,700 per piece, which is the price of Bitcoin in November last year.
Since Bitcoin last fell to around $5,700, bitcoin prices have picked up again, recovering some of the decline. According to CoinDesk, the current price of Bitcoin is hovering around $6,300. This price is still equivalent to a drop of more than 67% compared to Bitcoin's historical peak of $20,000.
Hosp said that in order for Bitcoin to rise to $60,000 per lot, a lot of big positive news is needed. Hosp added: "If a country announces the launch of a bitcoin-based ETF fund, or if a country announces other policies that are very beneficial to Bitcoin, the price of bitcoin may rise significantly."
It now appears that the above policies are difficult to achieve under the current circumstances. Hosp said that it will take a long time for bitcoin prices to rise to $60,000 each.
With more than half of the 2018, Hosp said that if the price of bitcoin broke through $10,000 per dollar by the end of August, then we can expect that the price of bitcoin would rise by more than $20,000, with the public. Media propaganda, the mood of the cryptocurrency market will be stimulated, we can expect the price of bitcoin to rise to $60,000 per piece.
This year, cryptocurrencies such as Bitcoin are under tremendous pressure, as different countries have introduced corresponding regulatory and review measures.
Earlier, the US Securities and Exchange Commission claimed that Bitcoin is not currently a security, and they are not regulated by them. After that, the price of Bitcoin has rebounded.
Officials of the US Securities and Exchange Commission (SEC) who are in charge of digital cryptocurrency and first-time token issuance (ICOs) say that Bitcoin and Ethereum are not in the securities category, but there are other digital cryptocurrencies that are securities, and the SEC will use the relevant securities laws. Regulate these digital cryptocurrencies that are securities.