{"id":67169,"date":"2018-07-11T15:00:47","date_gmt":"2018-07-11T22:00:47","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=67169"},"modified":"2026-04-26T14:55:45","modified_gmt":"2026-04-26T13:55:45","slug":"crypto-developers-express-fresh-optimism-of-price-rebound","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-developers-express-fresh-optimism-of-price-rebound\/","title":{"rendered":"Crypto Developers Express Fresh Optimism of Price Rebound"},"content":{"rendered":"

Crypto bears are having a heyday. 2017\u2019s crypto euphoria is unceremoniously replaced by a steep market downturn<\/a>, numerous ICO scams<\/a>, and unrelenting attacks on crypto exchanges<\/a> \u2013 affirming pessimistic outlooks of\u00a0naysayers.<\/p>\n

As the negative headlines continue to proliferate, some crypto insiders remain bullish about the potential for digital currency to thrive not only in the future but this year as well.\u00a0<\/span><\/p>\n

Armed with bold predictions and sound rationale, they are maintaining an optimistic outcome despite a slew of negative indicators.\u00a0<\/span><\/p>\n

Julian Hosp Makes Another Bold Prediction<\/h2>\n

Julian Hosp, co-founder and president of TenX<\/a>, is known for his prophetic understanding of cryptocurrencies. In December 2017, when the price of Bitcoin approached $20,000, Mr. Hosp predicted that the digital currency would soar to $60,000 but will first drop to $5,000.\u00a0<\/span><\/p>\n

He was right about the drop.<\/p>\n

Although Bitcoin hasn\u2019t technically dropped as low as $5,000, it's come close. CryptoSlate\u2019s price data<\/a> shows that Bitcoin reached a current trough of $5,800, which, for argument\u2019s sake, is close enough to the radical fall that Mr. Hosp predicted.\u00a0<\/span><\/p>\n

Having reached his predicted low point, Mr. Hosp is optimistic that Bitcoin\u2019s value can creep back up to its peak. At the RISE tech conference, Mr. Hosp commented to CNBC:<\/a><\/p>\n

\u201cBack 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.\u201d<\/p><\/blockquote>\n

To be sure, he provided stipulations to his prediction.\u00a0<\/span><\/p>\n

Mr. Hosp acknowledged that a \u201cmassive positive event\u201d must occur for Bitcoin to reach $60,000. For instance, the release of a Bitcoin ETF<\/a> or a country announcing something he described as \u201cvery, very positive for bitcoin.\u201d<\/p>\n

However, Bitcoin prices are beginning to rebound, and Mr. Hosp sees another plausible path to $60,000:<\/p>\n

    \n
  1. Bitcoin price hits $10,000 by the end of August\u00a02018<\/span><\/li>\n
  2. Price momentum pushes Bitcoin back toward $20,000<\/li>\n
  3. Accompanying press and media attention push Bitcoin\u2019s price toward $60,000<\/li>\n<\/ol>\n

    The Rationale Behind the Predictions\u00a0<\/span><\/h2>\n

    While Mr. Hosp\u2019s predictions possess a degree of whimsy, other crypto experts articulated more tangible reasons to believe that Bitcoin and other cryptocurrencies could soon surge in value.\u00a0<\/span><\/p>\n

    Ethereum<\/a> co-founder and ConsenSys founder isn\u2019t explicitly focused on pricing. While he acknowledged that increased value for digital tokens like Ether also boosts the platforms mindshare, he demurred that “We let price take care of itself.\u201d<\/p>\n

    \"CBOE
    Related:\u00a0CBOE Seeks SEC Approval for Bitcoin ETF<\/a><\/figcaption><\/figure>\n

    Instead, Mr. Lubin is focused on infrastructure. While Bitcoin and other cryptocurrencies were in a veritable free fall, countries have boosted regulatory efforts, and some clarity is emerging about the future legal implications for digital currencies. For example, last month, the SEC decided<\/a> that Ether should not be classified as a security.\u00a0<\/span><\/p>\n

    Moreover, Ethereum is expanding its infrastructure to hasten transaction times and to provide a more comprehensive blockchain experience. As Mr. Lubin noted, a future iteration of Ethereum will allow \u201ctens and hundreds of thousands of transactions per second.\u201d<\/p>\n

    Although\u00a0<\/span>Julian Hosp might be reading the crypto tea leaves to determine future price points, Joseph Lubin is confident in the legal and technological developments surrounding this burgeoning economy. In both cases, these crypto insiders are rejecting the negative narrative about the crypto market, and expressing optimism about its future.<\/p>\n","protected":false},"excerpt":{"rendered":"

    As the negative headlines continue to proliferate, some crypto insiders remain bullish about the potential for digital currency to thrive not only in the future but this year as well.\u00a0<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,15323],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nCrypto Developers Express Fresh Optimism of Price Rebound<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/crypto-developers-express-fresh-optimism-of-price-rebound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Developers Express Fresh Optimism of Price Rebound\" \/>\n<meta property=\"og:description\" content=\"As the negative headlines continue to proliferate, some crypto insiders remain bullish about the potential for digital currency to thrive not only in the future but this year as well.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/crypto-developers-express-fresh-optimism-of-price-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-11T22:00:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-26T13:55:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bill DeLisle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Crypto Developers Express Fresh Optimism of Price Rebound\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bill DeLisle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/crypto-developers-express-fresh-optimism-of-price-rebound\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/crypto-developers-express-fresh-optimism-of-price-rebound\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/bill-delisle\/#person\",\"name\":\"Bill DeLisle\",\"url\":\"https:\/\/cryptoslate.com\/author\/bill-delisle\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/bill-delisle\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/bill-delisle\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/09\/cs-bill-d.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2017\/09\/cs-bill-d.jpg\",\"caption\":\"Bill DeLisle\"},\"description\":\"Bill is a writer who frequently covers cryptocurrency and the fintech movement. 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