Blockchain Capital partner Spencer Bogart compared Bitcoin (BTC) to a “tinderbox” July 26, telling CNBC prices could grow further due to multiple “catalysts.” Speaking to CNBC’s Fast Money, Bogart, who is regular commentator on the network and on cryptocurrency social media, adopted a notably bullish tone compared to just weeks ago when Bitcoin was trading around $6,000.
At press time Thursday, BTC/USD traded around $8,233 according to Cointelegraph’s price index.
Like many commentators, Bogart highlighted potential regulatory approval of a Bitcoin exchange-traded fund (ETF), geopolitical and macroeconomic “tensions” and continued interest in blockchain integration for payments from big business such as MasterCard in July.
Despite consensus building that the ETF approval will have to wait until September or even longer, Bogart said the status quo could not continue infinitely.
“The cat’s out of the bag,” he continued to CNBC reporters, “[i]nnovation is going elsewhere if the SEC [U.S. Securities and Exchange Commission] doesn’t get on board soon.”
Spencer Bogart says Bitcoin is close to bottoming out. Bogart, a partner at Blockchain Capital, believes the top-ranked cryptocurrency will soon begin to manifest another bull run based on the many recent positive developments occurring in the industry.
Spencer Bogart, a partner at Blockchain Capital, believes that Bitcoin is poised for more upward price movement, given the plethora of positive signs in the market. The blockchain venture capitalist also agrees with those who say that BTC hit its price floor in June 2018.
On 25th July, CNBC FastMoney interviewed Spencer Bogart, the Co-Founder of the venture capital firm, Blockchain Capital. In the interview, he was asked about the recent announcement of Mastercard that took place last week and whether it could be a driving force for cryptocurrencies.
As the price of bitcoin surpassed the $8,000 region, analysts and experts in the cryptocurrency sector have become more positive regarding the mid-term trend of major digital assets. Spencer Bogart: The Bitcoin Low Might Already Be In It was recently revealed that Mastercard had secured a patent for linking fiat bank accounts and cryptocurrencies.
As Bitcoin continues to hold steady above $8,000, Spencer Bogart predicts that the price rally is nowhere near finished. The blockchain venture capitalist believes that many market conditions will play a pivotal role in the coming weeks and months.
Bitcoin has seen strong gains over the last week — trading at about $8,200 as of the earlier hours of Thursday. But the largest digital currency by market cap still isn’t close to its December, 2017 high of $19,783.
Spencer Bogart believes that another Bitcoin price plunge is imminent. Bogart, who is a partner at Blockchain Capital, a crypto-focused VC firm based in San Francisco, made this assertion in a recent interview with CNBC.
Blockchain venture capitalist Spencer Bogart forecast “artificial” Bitcoin price suppression June 25 as hedge funds near the end of their lock-up period. Speaking to CNBC, Bogart, who earlier this week claimed Bitcoin would be above $10,000 by the end of the year, warned over “forced selling” which would drive markets lower. I think that could
At press time, bitcoin has sunk to $6,200, and is trading for approximately $100 less than where it stood during yesterday’s afternoon hours. It appears the bears have not given up the reins just yet, and we still have a lot of catching up to do.
Blockchain Capital partner Spencer Bogart is “super bullish on crypto right now,” but admittedly thinks bitcoin price could still fall further — due, in large part, to forced selling from new cryptocurrency funds.
As Bitcoin has recovered slightly from its weekend dip below $6,000 some of it’s biggest supporters are at odds over what the near future will bring. Bogart Sees More Lows before Rally Spencer Bogart, a partner at Blockchain Capital in San Franciso, was on CNBC’s Fast Money Monday saying that he is “super bullish on.
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