Cryptocurrencies are currently struggling right now to get back on track, after what can be called a very complex week. While some investors are pessimistic regarding their chances of generating big profits, cryptocurrency and ICO expert Phillip Nunn is talking once again about the optimistic prediction he made back in January.
According to Bitcoinist, he claimed that Bitcoin would reach lows of $6,000 and highs of $60,000 this year. A few days ago, he talked about this again, after the price of the biggest coin on the market plummeted almost 18 percent last week.
Going past the all-time-high and above
Nunn, who is the CEO of The Blackmore Group and Wealth Chain Group, saw the first half of his prediction coming true in the first week of February, when Bitcoin fell briefly below $6,000. And now, he does believe that the asset has everything it takes to return to its all-time high of $20,000, but also go past this, coming closer to $60,000.
Obviously, other investors and analysts are skeptic about this, since it’s a milestone that’s very difficult to see become reality. But Nunn remains confident, citing his belief in blockchain:
“The reality is we’re moving from an internet of information to an internet of value. It’s going to disrupt everything; money, record-keeping, legal.”
He also added that the biggest factor in this high percentage predictions in both directions can be accredited to the high volatility of the market.
“The prediction was based on, first of all, market volatility which we’re experiencing at the moment; I think that’s really apparent. I absolutely stand by my prediction.”
Are there any chances for this to happen?
Sure, this is a curageous statement, since the cryptocurrency market is still young and quite small, compared to other markets, not to mention that it’s very easy to manipulate. Add to this the constant news about regulation and security and you will see why this prediction is considered at least courageous.
There are less than six months left in this year, so we’re looking forward to seeing if there are any chances for Philipp Nunn’s prediction to become reality. But we’re talking about cryptocurrency here, so almost nothing is for sure.