Bitcoin ‘Waiting for Reasons to Go Higher’, Says Blockchain VC Partner Spencer Bogart
Blockchain Capital partner Spencer Bogart compared Bitcoin (BTC) to a “tinderbox” July 26, telling CNBC prices could grow further due to multiple “catalysts.”
Speaking to CNBC’s Fast Money, Bogart, who is regular commentator on the network and on cryptocurrency social media, adopted a notably bullish tone compared to just weeks ago when Bitcoin was trading around $6,000. “Any number of catalysts could send bitcoin exploding higher,” he forecast, adding: “Bitcoin is kind of a tinderbox right now, waiting for reasons to go higher.” Bogart’s increasing optimism adds to a popular narrative in the cryptocurrency industry that has grown out of Bitcoin’s sudden price increase of over 35 percent this month. Bitcoin (BTC) is down 3.45% over the past 24 hours and is currently trading at $7,912.79 on Coinbase. BTC dominance is at 46.9% and the total cryptocurrency market cap is down 4.30% and is currently at $289 Billion.