Blockchain Capital: "The price of Bitcoin is close to its bottom" :


In an interview, Spencer Bogart of Blockchain Capital said the price of Bitcoin and other crypto-currencies were close to their "bottom".

In an interview with CNBC, Spencer Bogart, a partner at Blockchain Capital, explained that after a strong downtrend, the price of Bitcoin was close to its "bottom".

"We are down about 70% from December 2017 prices, I think Bitcoin is close to bottom, as is the rest of the market."

Mr Bogart then added that the 'good news' about the market has not yet had an effect on prices and compared the phenomenon to past events.

"At the end of 2017, we were at the highest and the bad news seemed to have no effect on the markets ... Today, it's the opposite, while we had a week with big news including with TD Ameritrade and Yale, it has virtually no effect on prices. "

On Wednesday, giant TD Ameritrade announced that it had made a strategic investment in a new cryptocurrency exchange platform called ErisX.

In addition, it has recently been reported that Yale University has invested in two investment funds dedicated to cryptocurrencies.

"More and more institutions will arrive in this space, it will take time but each of these small advances will trigger a future uptrend." Concluded the venture capitalist.

At the time of writing this article, the Bitcoin price is $ 6,612 (+ 0.5% over the last 24 hours).

Last month, the US entrepreneur Michael Novogratz also said that the cryptocurrency market had probably reached its lowest level.
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