“Any number of catalysts could send bitcoin exploding higher,” says Bogart. While Bitcoin is trading at about $8,200 today, Spencer Bogart said that Bitcoin “…is kind of a tinderbox right now, waiting for reasons to go higher”.
The most famous digital currency has seen strong gains over the last week but still isn’t even close to its December 2017 high of $19,783.21. Right now, market watchers are waiting in anticipation for the next jump.
“Any number of catalysts could send bitcoin exploding higher,” Spencer Bogart, a partner at Blockchain Capital, told the press yesterday. Which catalysts? Trade tensions, the possibility of a bitcoin ETF, rising currency rates and, mainly, Mastercard’s recent announcement of a new patent that could allow bitcoin transactions on credit cards.
Last May, while bitcoin continued to fall, Bogart said it was the only digital coin worth buying. He said bitcoin, which was priced around $7,400 at the time, would likely go lower before hitting at least $10,000 by the end of 2018. The coin fell below $6,000 the following month.