Ethereum co-founder Charles Hoskinson believes that bitcoin is about to achieve big things.
Hoskinson: BTC Will Reach $100,000
Via Twitter, Hoskinson posted his beliefs that bitcoin could easily reach $100,000 in the coming years. This arguably puts him up there with the likes of venture capitalist Tim Draper, who has stated that bitcoin is likely to hit the six-figure mark by the time 2023 rolls in.
Hoskinson’s words are intriguing in that he is the co-builder of arguably bitcoin’s biggest competitor Ethereum (ETH), which stands as the number two largest cryptocurrency by market cap. Ethereum, in addition, often boasts smart contracts abilities, which allow it to tokenize its network, build other coins and serve as host to a wide array of decentralized apps (dApps).
In his message, Hoskinson says:
Bitcoin’s price is going down… Remember everyone, after the FUD, news trading and manipulation clears out, we still have a global movement that’s going to change the world. We will see $10,000 BTC again, and welcome $100K. Crypto is unstoppable. Crypto is the future.
What’s interesting is that Hoskinson’s message is arriving when it is. Just last week, many of us would have likely seen Hoskinson’s words and dismissed them outright. After all, the cryptocurrency was on the verge of hitting the $6,000 range. Bitcoin had ultimately lost more than $2,500 over the past two weeks, and November was once again marking new lows for the cryptocurrency.
However, as of late, BTC seems to be on a slight roll. Just a few days ago, the currency jumped in price by more than $500 and added approximately seven percent to its overall value. Bitcoin appeared on the verge of repeating its end-of-year 2018 behavior, but now it seems the currency is working hard to turn itself around and avoid the past.
Thus, perhaps we can take Hoskinson’s words to heart and believe that BTC, despite the ugly drops its incurred as of late, will somehow revamp its present status and build up its presence in the crypto industry.
Among the other serious BTC price predictions to meander throughout the space this year include those of Tim Draper, who as explained earlier, stated that the cryptocurrency was likely to reach $250,000 by the time 2023 emerged. In addition, Tom Lee of Fundstrat fame and a consistent “short-term” bull has stated that the currency would end the year at an even $40,000, though with only one month to go before 2020 appears, it doesn’t look like that prediction is set to come true.
Not All Predictions Strike Home
BTC would have to incur a jump of roughly $32,500 over the next four weeks for Lee’s words to become a reality.
Aside from his work on Ethereum, Hoskinson is also the co-founder of the Cardano blockchain, another digital currency in the top 20.