Bitcoin

‘Any number of catalysts could send bitcoin exploding higher,’ says blockchain venture capitalist

Photo: newsbtc

Bitcoin has seen strong gains over the last week — trading at about $8,200 as of the earlier hours of Thursday.

  • Bitcoin trading at about $8,200 as of the earlier hours of Thursday.
  • Blockchain venture capitalist Spencer Bogart says many things could cause the coin to gain value — or fall — rapidly.
  • “Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher,” he says

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 $19,783.21. Now, market watchers are waiting in anticipation for the next jump — or decline.

“Any number of catalysts could send bitcoin exploding higher,” Spencer Bogart, a partner at Blockchain Capital, told CNBC on “Fast Money” Wednesday.

Spencer Bogart (bcfocus.com)

Those catalysts include global trade tensions, the possibility of a bitcoin ETF, rising currency rates and Mastercard’s recent announcement of a new patent that could allow bitcoin transactions on credit cards.

Mastercard (Mastercard.us)

“Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher,” said the venture capitalist.

 

Source: https://www.cnbc.com/2018/07/26/bitcoin-could-go-higher-says-blockchain-venture-capitalist.html

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