In an interview with CNBC on Wednesday (July 11) Julian Hosp, the co-founder of the encrypted wallet TenX, says he is still backing Bitcoin to potentially hit $60,000 before 2018 is out, despite the fact that although currently rallying, BTC is still trading at 70% of its near-$20,000 December 2017 all-time high.
Julian Hosp, the outspoken co-founder and president of encrypted wallet TenX has been attending the RISE Technology Conference in Hong Kong this week. CNBC caught up with the charismatic Hosp there, and asked him if he still expects Bitcoin to hit $60,000 this year, a figure he had previously predicted.
“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.”
As all crypto watchers know, after smashing it out of the park in 2017, the market has struggled throughout 2018. However, factors such as a forecast for relatively mild SEC regulations and Facebook lifting their crypto ad ban has raised investors spirits, as well as boosting the overall crypto market cap value.
Bitcoin Needs A “Significant Event” To Boost Value
While Hosp remains bullish about his prediction and Bitcoin’s chances of hitting such a figure this year, be believes that a significant event may well be needed if BTC is to reach a valuation of $60,000. Such an event could be a major country, a global bank or even a multinational corporation making a positive announcement about working with Bitcoin or its blockchain, or Google, Twitter or both following Facebook’s example and lifting their crypto advertising bans.
Should such an event fail to happen, Hosp admits it will take much more time for Bitcoin to reach $60,000. However, should Bitcoin somehow surpass a valuation of $10,000 by August, the resulting positive media coverage might propel Bitcoin up the $60,000 organically.
Who Is Julian Hosp?
If one were looking for the blockchain’s own “rock star”, 32-year old Julian Hosp might fit the bill. Tanned, blonde and muscular, Hosp looks more like a “surfer dude” than a technology geek, but that’s probably because he was the former long before he became the latter. Oh, and in between, he found the time to become a trauma doctor.
From 2003-2011, Hosp was a competitive kite surfer (that’s like a surfer that can fly), good enough to make a living from it and put himself through medical school, qualifying as a surgeon in 2011. However after a year working in a trauma ward, Hosp decided he wasn’t quite done with experiencing life’s varieties, and promptly upped sticks and moved to Hong Kong with a view to becoming an entrepreneur.
It was there that he delved into the world of cryptocurrency, Bitcoin in particular, and in 2015 he co-founded the encrypted wallet/debit card that is TenX.
The beauty of TenX is that it instantly converts cryptocurrency into fiat currency, allowing the user to pay for goods in shops that don’t accept Bitcoin or Ethereum, making it the market leader in integration right now, and proving without doubt that Julian Hosp has a great deal of brains to go with the brawn!