The last two months of 2017 have shown that Bitcoin is synonymous with volatility, although the strength of the main cryptocurrency has also been demonstrated. An eight-week bull run culminated in a high of $ 20,000 a little over a week ago, before market capitalization quickly corrected up to $ 8,000 in different stock markets around the world on Saturday.

Speaking to CNBC , Dr. Julian Hosp, co-founder of financial technology company TenX , predicted that Bitcoin would see even higher peaks and lower declines in the next year, stating:

"I think we'll see Bitcoin reach the $ 60,000 mark, but I also think we'll see Bitcoin reach the $ 5,000 mark. The question is, however, 'which one will get there first?'"

While some certainly saw Bitcoin's correction from all-time highs such as a market crash or bubble burst , bullish investors, including Hosp, believe that recent lows provided the perfect opportunity to buy more Bitcoin. Hosp said:

"For the experts who have been in the market, this was actually a welcome fall, this fall for us was very, very healthy and some of us have used it to buy a little more because, suddenly, we had a 40-45 percent discount from historical highs. "

The crypto market grows

The fall was not only in the price of Bitcoin. At the end of last week, the cryptocurrency market suffered a total loss of $ 200 billion in the space of 48 hours, but quickly recovered and consolidated. While the dramatic correction was terrifying to watch, it is certainly not the first time it has happened and some analysts are sure it will not be the last .

A number of factors were at stake in the correction and no catalyst can be attributed to the direct decline in value in the week leading up to Christmas.

Hosp may be bullish at this time, but anticipates an even greater correction for the entire cryptocurrency market, as users scrutinize superfluous currencies and invest in those that offer tangible uses and real value. Hosp added:

"I do not think it's going to be a bubble that's going to explode and everyone will lose their money, but I think that all the currencies and all the assets with very little use or value will be sorted in. The money will flow into the assets of the space of the cryptocurrencies that really deliver value, have new technology and that people use. "