Spencer Bogart, a partner at Block chain Capital, believes that opportunities are “still gigantic” despite the current bear market, maintaining his pro-Bitcoin (BTC) stance, pointing out the critical role of “programmable money,” which is supposed to gain even more popularity over time.
Bogart emphasized the fact that Bitcoin has become the “biggest bull markets of all time,” referring to the the massive spike of Bitcoin up to $20,000 in December 2017 from around $1000 in the beginning of last year. The expert has stressed that although the current state of crypto market is opposite to last year’s — with bear markets doing “bear things” — it still does not diminish the overall “gigantic” potential of Bitcoin.
In the interview, Bogart has also expressed his “mono-crypto” position, claiming that Bitcoin has the “largest established network effect” and is “more than 5 times larger than the number two crypto.” The Blockchain Capital partner noted that the crypto community has been looking for the “next Bitcoin” since the emergence of Bitcoin, and suggested that this commitment to altcoins is a “dangerous game to play.”
Earlier in October, Spencer Bogart had predicted that Bitcoin’s price has almost hit its bottom, noting that “bad news” last year appeared to “have no effect on the markets,” while now “we are seeing the other side of that.”
Recently, prominent Wall Street bull Tom Lee maintained his new prediction that Bitcoin will end the year at $15,000,