TenX Co-Founder Stands Behind $60,000 Bitcoin Price Prediction

[bbc.reporter]

This is surely the prediction that might make Tom Lee's eyeballs pop out while jumping for joy. If he reads this article, I reckon he might also say finally, a bull crazier than I am! High 5 brother!. hehehe

How is Losp standing by on his very bullish prediction? Is this desperation or denial?



Between late December 2017 and the start of 2018, numerous stakeholders delivered their BTC price predictions for the year. Suffice to say that many of the optimistic projections have come up short. A massive crypto-bleed has seen token prices plummet since the middle of January 2018.

Hosp, like many if his colleagues, predicted that Bitcoin would set a new all-time high (ATH). Speaking recently to CNBC from the grounds of the RISE tech summit taking place in Hong Kong, he said:

Back then, December, [the] 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.

Bitcoin has gone below the $6,000 mark on three occasions in 2018, once in February and twice in June. However, the top-ranked crypto hasn’t quite bottomed out at $5,000. The lowest BTC price level for the year remains $5,700.

Hosp believes that if Bitcoin breaks the $10,000 barrier by August, then things could potentially become interesting. According to the TenX chief:

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.

Read in full https://unhashed.com/cryptocurrency-news/tenx-co-founder-stands-behind-60000-bitcoin-price-prediction/

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[davis196]

This guy probably has a working crystal ball or something.
Actually it was pretty easy to predict the 5000-6000 USD price bottom,there were many factors pushing the price down,but what will push the price up to a 60,000 USD ATH?
Big crypto whales buying bitcoins worth billions of USD?
A new army of newbie enthusiasts entering the crypto markets?
Big banks and Wall Street adopting cryptocurrencies?
China and India crypto ban removed?
Can anybody answer,please.

[pooya87]

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.

nah, the reversal will take longer than that and despite all the good news coming to bitcoin we still have lots of FUD and no major market moving good news yet. not to mention that for the trend to go back to bullish it will be needing some accumulation and slow rise first as it has happened for previous ones.
it also sounds to me more like they are advertising their services by just talking about bitcoin in a way that news sites publish it.

Actually it was pretty easy to predict the 5000-6000 USD price bottom,

it is easy to call it easy when it has happened and we are past that mark!
you can say "it was easy to predict $60k" when it happened but now you are skeptical

[NeuroticFish]

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.[/i]

It's a prediction, so it means nothing, and it's also inexact. I mean, if it will not be 10k by the end of August, ... then what?
Bitcoin is a great tech, a great tool, a great coin, so the common sense tells it has to rise again. But don't always expect miracles from it.
What this kind of speculations don't say is that if the price starts rising like that, it'll pop again. Is Bitcoin evolution meant to be a succession of FOMO bubbles? I don't know...

[illyiller]

How is Losp standing by on his very bullish prediction? Is this desperation or denial?

Sentiment like this is why we need to go lower. A bull trap here, a bull trap there. But this thing needs time before people start accumulating again. A lot more time.

I'll see you bulls in 2019. Maybe later. If you survive.

[centive]

I think price prediction doesn't really matter.

The primary function of bitcoin as means for transaction is being upheld.
Secondary function - as means for storage of value is work in progress. Whether it goes to 10,000 or 1,000,000 tomorrow it still is the best way for many of the world's depressed citizenry to escape tyranny and hyperinflation (i.e. Venezuela, Iran)

Therefore, the conclusion is - bitcoin will be here for the foreseeable future.

[arwin100]

Dunno if he's prediction is right or maybe he's just giving a little hype for the people worrying about the downfall happening right now but if he's prediction will became true then maybe he will gather more reputation on this industry. But we shouldn't rely on prediction since on the first place it is just a prediction which doesn't have a supporting facts that it will came true since maybe year 2017 bull run might evade us on this year 2018.

[pooya87]

Dunno if he's prediction is right or maybe he's just giving a little hype for the people worrying about the downfall happening right now but if he's prediction will became true then maybe he will gather more reputation on this industry. But we shouldn't rely on prediction since on the first place it is just a prediction which doesn't have a supporting facts that it will came true since maybe year 2017 bull run might evade us on this year 2018.

i don't think predictions such as this give any hype to anything when there isn't a bull run going on. even during a bull run they don't affect that many people with this type of predictions.

as for the "reputation" you mentioned, if this prediction comes true then we will gather some reputation but the reputation would be a bubbly bitcoin! because going up ~10x out of nowhere in only 6 months means a bubble and a huge one at that and the consequences that follow will be dire.

[timerland]

I honestly don't know whether he actually believes this, is trying to use his influence in order to manipulate the prices somehow, or even just trying to do a publicity stunt similar to that of John McAfee's to promote his services.

But whatever his motives may be, I think that it's definitely fair to say that there is absolutely no way (unless fiat all of a sudden went to the floor overnight, which is unlikely) that a new ATH will be set in this year, let alone a crazy $10k price.

The bearish sentiment is very strong, and based on previous bear markets we can conclude that the consolidation and sideways movements will continue to go on for at least until the end of the year. Bullish prospects are extremely small at this stage, not sure where he's going with such an ultra-bullish prediction. But who cares, anyways. We've seen enough from McAfee and Tom Lee.

[gentlemand]

Is there any other area of finance that's so clogged with pointless predictions and said predictions get tons of coverage? I can't think of anything. I guess the silly price moves are still the main narrative.

Right now $60,000 feels silly. $600 also feels silly. Both are well within the realms of possibility.

[BrewMaster]

Is there any other area of finance that's so clogged with pointless predictions and said predictions get tons of coverage? I can't think of anything. I guess the silly price moves are still the main narrative.

Right now $60,000 feels silly. $600 also feels silly. Both are well within the realms of possibility.

it is a nice tactic nonetheless. whenever you make a prediction there is only two possible outcomes and both of them are beneficial to you:
1. if your prediction doesn't come true, you will simply be forgotten since you are 1 in lots of people making silly predictions. the profit is that when you made that prediction you got that publicity, or "the moment of fame"! the extreme example is McAfee
2. if your prediction comes true then you suddenly gain a huge popularity and become a "future teller". and you can milk that popularity if you know how
it is a win-win situation either way...

[LFC_Bitcoin]

How is Losp standing by on his very bullish prediction? Is this desperation or denial?

Sentiment like this is why we need to go lower. A bull trap here, a bull trap there. But this thing needs time before people start accumulating again. A lot more time.

I'll see you bulls in 2019. Maybe later. If you survive.

I’ll be here HODLING, see you in 2019.

If you really have a pair of balls HODL with me until around 6-12 months after the next halving, that’s where we’ll see real fireworks.

[gentlemand]

2. if your prediction comes true then you suddenly gain a huge popularity and become a "future teller". and you can milk that popularity if you know how
it is a win-win situation either way...

But all these people seem to wind up going mad and embracing Bcash or claiming Amazoncoin would be better eventually. I suppose because their predictions desert them and they start to look like twats.

[bbc.reporter]

Is there any other area of finance that's so clogged with pointless predictions and said predictions get tons of coverage? I can't think of anything. I guess the silly price moves are still the main narrative.

Right now $60,000 feels silly. $600 also feels silly. Both are well within the realms of possibility.

I reckon the US stock market is also clogged with many wrong information. Watch CNBC and Bloomberg hehehe.

They should issue warnings that none of the information should be taken as financial advice.

[boyptc]

He's "quite" confident with his prediction. That's why it's a prediction, everybody is quite confident to push our confidence with the market.

I don't see how we're going to end 2018 higher than we did in 2017.

No idea but ETF might be the answer.

[The Sceptical Chymist]

Who gives a shit about outrageous predictions?  If you recall the huge bull market in precious metals that ended in 2011, there were "experts" predicting $10,000 silver and $500,000 gold, and every increment up to those insane values.  People were predicting the Dow would soon be at 36,000 back in 2000.  And on and on. 

My guess is that individuals who make these calls have a vested interest in being bullish, i.e., they have some of whatever it is they're pumping.  That kind of stuff is commonplace in the Speculation section, where people who own bitcoin are always predicting it's going to the moon, wherever that is.

Don't listen to this hype, because that's all it is.  I can guarantee you the dude in the OP who's predicting bitcoin is going to $60,000 didn't predict we'd fall from $20,000 to where we're at now.

[pooya87]

I don't see how we're going to end 2018 higher than we did in 2017.

No idea but ETF might be the answer.

first of all what does this new ETF have that the previous ones like the Winklewoss ETF didn't? and why should they accept this while they continuously denied the previous ones?!
second, ETF approval will be a big hype and lead to a big rise but we are not talking about a rise back to $10k or rise to the previous ATH even. we are talking about going past that ATH and setting a new one which is 3 times bigger than the previous one! one useless ETF with its hype can not do that.

[NeuroticFish]

we are talking about going past that ATH and setting a new one which is 3 times bigger than the previous one! one useless ETF with its hype can not do that.

Don't underestimate the power of FOMO. When Bitcoin will start rising, people may freak out again. Remember Novermber-December 2017?
Of course, if doesn't have to be a bubble, but 60k this year clearly means that it's a bubble what he predicts.

[BitcoinNewbie15]

we are talking about going past that ATH and setting a new one which is 3 times bigger than the previous one! one useless ETF with its hype can not do that.

Don't underestimate the power of FOMO. When Bitcoin will start rising, people may freak out again. Remember Novermber-December 2017?
Of course, if doesn't have to be a bubble, but 60k this year clearly means that it's a bubble what he predicts.

This.

Although I (highly) doubt that Bitcoin will come anywhere near $60k this year, I do believe an intense wave of FOMO will hit the market once Bitcoin starts getting close to the ATH, or maybe even slightly above it. There have been many newbies that have left Bitcoin after the price crash and this bear market, I know a few of them. An ETF approval surely will trigger a pump back above $10k, and once the ETF goes live the price will likely climb higher with new institutional investors finally dabbling into Bitcoin. Essentially it will be one huge collective FOMO.

[bbc.reporter]

Who gives a shit about outrageous predictions?  If you recall the huge bull market in precious metals that ended in 2011, there were "experts" predicting $10,000 silver and $500,000 gold, and every increment up to those insane values.  People were predicting the Dow would soon be at 36,000 back in 2000.  And on and on.  

My guess is that individuals who make these calls have a vested interest in being bullish, i.e., they have some of whatever it is they're pumping.  That kind of stuff is commonplace in the Speculation section, where people who own bitcoin are always predicting it's going to the moon, wherever that is.

Don't listen to this hype, because that's all it is.  I can guarantee you the dude in the OP who's predicting bitcoin is going to $60,000 didn't predict we'd fall from $20,000 to where we're at now.

But he predicted this fall during the high back in December, which might make his statement deserving of more attention. In any case, his prediction is mentioned in the article which I highlighted.