Spencer Bogart of Blockchain Capital Thinks Now is a Perfect Time to Buy More Bitcoin (BTC)

Spencer Bogart, of Blockchain Capital, recently discussed his outlook for bitcoin and cryptocurrency on “Bloomberg Technology.” Here is what he had to say.

The big question that interviewer Emily Chang posed to Mike McGlone was whether bitcoin is back. In response, McGlone stated that in the short term, but in the long term “probably not.” Further, several indicators show that the market is a ways away from a typical bottom that one normally sees.

Bogart responded as well, stating that bitcoin is back, but we are probably not ready to see all-time highs. There are more regulatory shoes that need to drop, but for now, activity and interest have not seeded with space. Further, now may be a

“very good time to buy.”

Chang then asked Bogart whether institutional interest has slumped. Bogart does not believe that it has slumped.

“We are seeing more and more companies coming in every day, and higher quality entrepreneurs as well.”

Further,

“there is a strong case that can be made that bitcoin is the most compelling asset in the world right now.”

Chang then asked where the new demand will come from.

McGlone pointed to institutions and though bitcoin is a good investment, gold is better. Bogart also responded to the question, stating that there are three main buckets of demand going forward. The first is the passage of time – allowing for bitcoin to go from “scary and unknown to trusted and proven.” The second is “from central banks and institutions which view it as a non-sovereign digital asset with scarcity.” The third is tech demand.

Chang also asked what are some indicators that could end the bear market.

Bogart stated that we

“need more time to pass between the bull market of 2017 to where we are today.”

Chang finally asked what coins should be watched and which shouldn’t.

Bogart referred to the JPMorgan coin as the “intranet,” but the focus should be on “Internet” such as Bitcoin and Ethereum.

Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 20th)

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,469FansLike
2,795FollowersFollow
4,235FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today