After rallying to a record high above $ 19,800 midway through December, bitcoin prices collapsed last Friday. The digital currency lost a third of its value in a single day, briefly sinking below $ 11,000 before regaining some of the ground it lost.
Bitcoin traded at $ 15,185 on Tuesday, according to Coinbase.
“For experts that have been in the market, this was actually a welcome dip,” Hosp told CNBC’s “Squawk Box”.
He said industry insiders had expected the price of bitcoin to fall, given the “dangerous” elevation of value that it has seen over the past few months.
“This dip for us was very, very healthy, and some of us have used it to buy a little bit more because suddenly we had 40-45 percent discount to all-time highs,” he added.
Hosp said he’s certain that bitcoin will fall again.
“Definitely,” he said. “I don’t think right now, but I think in the long run, we will always see a little bit of an up move, and then a dip down.”