I dated this guy for 2 months now. We talked on the phone daily at twice a day. Short calls. Tops 30 minutes. I understand, he does have work and kids to take care of and so am I. We are both busy working and only see other once a week. Sometimes twice a month. Once we meet, I usually come to his place and spend a night. One day, he called and said we should cool off ? That he needed space and time. I am very disappointed and shock. I have millions of questions in my brain, I can't concentrate.
Is there hope ? How long time he wants ? Help...

Actually my first thought is that tis man just want to get out of this "relationship".. You don't spent very much time together so as to to get bored of you or thing that it is too much for him.. On the other hand maybe he's very stressed with his job, and children etc so he wants some time for himself... let him "rest" for a month and if he never call back then go on with your life...

He must have lost that ecstasy since you talk everyday for long. Give him a chance to miss you but warning... this also could mean another thing.

As posted, give it a time, Don't TALK TO HIM even by "accident" or just to greet for his b-day. Set time frame say 3 weeks, if you don't get a call, MOVE forward.