RATE Group | Bitcoin ‘Waiting for Reasons to Go Higher’, Says Blockchain VC Partner Spencer Bogart
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Bitcoin ‘Waiting for Reasons to Go Higher’, Says Blockchain VC Partner Spencer Bogart

26 Jul Bitcoin ‘Waiting for Reasons to Go Higher’, Says Blockchain VC Partner Spencer Bogart

Posted at 19:02h in Bitcoin News by

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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 33 percent this month, the majority of which occurred over the past ten days.

At press time Thursday, BTC/USD traded around $8,233 according to Cointelegraph’s price index.

Like many commentators, Bogart highlighted potential regulatory approval of a Bitcoin exchange-traded fund…

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