Blockchain Capital’s Spencer Bogart: Crypto is ‘Still Gigantic’, Bitcoin as ‘Programmable Money’ is the Future
Although we are in a bear market since the beginning of 2018, cryptocurrencies have ‘gigantic’ opportunities ahead. This is what Spencer Bogart, a partner at Blockchain Capital said during an interview with Bloomberg on Monday, November 19.
The crypto and blockchain expert has shown himself very bullish about the future, something that is in line with what other analyst predict for the coming years in Bitcoin. Mr Bogart explained that Bitcoin has experienced the biggest bull markets of all time. Back in 2017, Bitcoin moved from $1,000 at the beginning of the year to $20,000 in December.
He went on saying that although the market is experiencing a bear trend, he stills believe in the future potential that Bitcoin has to change the future. Furthermore, he said that Bitcoin is the most important virtual currency in the market compared to other altcoins. He mentioned that the popular virtual currency is ‘more than five times larger than the number two crypto.’
Blockchain Capital is a company that allows investors to set up their crypto and blockchain companies in a straightforward way. During the last years, new crypto and blockchain-related companies were created due to an increasing interest from individuals all over the world. Since it was created, the company financed 72 different firms and tokens in the market.
Back in October, Bogart said that Bitcoin was close to hitting its bottom price. However, this did not happen. Bitcoin was traded under $4,200 in some exchanges in the last 24 hours. Now Bitcoin has stabilized close to $4,500 dollars.
Thomas Lee, the co-founder of Fundstrat Global, said that Bitcoin will end the year close to $15,000 dollars and he was convinced about it. During a conversation on CNBC, he talked about the crypto market and why he remains positive for the future of the crypto space.
At the same time, the Intercontinental Exchange (ICE) will be launching the institutional platform Bakkt, allowing new investors to enter the market. The launching date has been delayed to January 24, 2019. Moreover, the U.S. Securities and Exchange Commission (SEC) might approve the first Bitcoin ETF in February 2019.