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
