Blockchain Expert Says Bitcoin to Continue Climbing in Price
Bogart, one the VC partners at Blockchain Capital has voiced his own predictions in that Bitcoin will continue positively gaining on the market as is showing no signs of slowing down. While BTC maintains its position about $8K, several market key factors will determine the next few months.
During an interview with CNBC, the partner explained that at BC Capital, a company based on decentralized tech stated that Bitcoin could surge even higher for any number of reasons and is currently looking for the next one to aid its progression.
The circumstances which he refers to include several factors that directly affect BTC such as the US Securities and Exchange Commission’s decision on the bitcoin exchange-traded fund, the current trading situation between China and the US and more. With the two nations involved in their trade war, Bitcoin has been directly and immensely affected in price. Clem Chambers also published evidence that proves the latest climb in price was a result of China’s investors and coin holders to exchange any of their assets into bitcoin as China continues dropping value.
He maintains his bullish attitude towards the coin and supports Bitcoin as one of the most important and valuable digital currencies on the market. With more than 1500 cryptocurrencies available internationally, Bogart states that many of these coins are unable to present their technology and economic promises.
Bogart explains several currencies are providing highly beneficial uses and excel in their current uses and Bitcoin is one of these involved coins. The VC partner is among many others that share the same opinions on Bitcoin and cryptocurrency. Chief executive officer Jack Dorsey and the co-founder of Apple Steve Wozniak stated that Bitcoin, the world’s leading digital coin may possibly be the perfect example for a unified singular global currency within the next 10 years.
Additionally, he spoke of the currency static behind Bitcoin exchange-traded funds and the Securities and Exchange Commission’s pending decision on approval or disapproval and believes that in either situation of whatever is decided, Bitcoin will continue growing regardless. He also agrees with several other leading speculators in that Bitcoin has achieved its lowest level this year and will not drop past $5700 should any other drops occur.