“Buy bitcoin, sell altcoins!” – investor from wall street

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Venture capitalist Spencer Bogart said in an interview with CNBC that bitcoin will remain a strong asset, despite the recent fall in prices. By the end of 2018, the cost of the first cryptocurrencies will rise above $10,000.

Bogart is a partner of large VC firm Future Capital. He is the first analyst on wall street who seriously researched bitcoin and blockchain technology. In his interview with Spencer Bogart said:

“Bitcoin is already 3 weeks down in price, but long term Outlook remains unregistered. The institutionalization of bitcoin needed. Every major Bank is trying to do something in the cryptocurrency sphere. Now there is a stable bear market, and for the first time no one predicted “the end of bitcoin“.

Altcoins will not survive the competition

Bogart also said that the cost of many of the altcoins are overpriced and in the long term, they can face significant resistance. The analyst said sell assets such as IOTA, TRON, Cardano, NEO, but will hold Ripple, Bitcoin, Cash, Ethereum, EOS. The expert says: “In the long run Ethereum have a good prognosis. The future of cryptocurrency will be closely connected with the development of ICO, but now its price is affected by hyped tokens created on the platform.”

The expert added that the instability of Fiat currency and the national currency crisis contribute to expanding the use of bitcoin. Spencer Bogart made his prediction that by the end of the year bitcoin will be worth at least $10 000. More optimistic experts believe that the price will reach $20 000.

Previously on this topic in the news:

24.05.2018: Tom Lee: “3 reasons bitcoin will rise to $25 000”

Tom Lee Lindstroma prediction on which bitcoin rally after the conference, the Consensus did not materialize, continues to insist that by the end of the year the value of cryptocurrency will rise to $25 000. The forecast analyst with wall street underpins the three factors.

3 reasons supporting the growth of bitcoin:

  • The cost of production and circulation of bitcoin. When the first cryptocurrency gave about $8000, in an interview with CNBC Tom Lee said that in fact, bitcoin is trading at cost. He has previously said that production costs amount to about $6000.
  • Institutional investors. Many are willing to invest and are interested in digital assets, but can not enter the market due to the uncertainty of the regulation. Tom Lee added that the recognition of bitcoin as an asset class will become a powerful impetus for the resumption of the rally.
  • Historical analysis. The company’s specialists Fundstrat Global Advisors analyzed the history of the development of bitcoin. Interesting, but for all the first borne digital currency, the profit answer only 10 days a year. Tom Lee says that the main thing is not to miss these 10 days since the rally from $8,000 to $25,000 will be very fast.
  • The current situation on the market analyst and investor explains “typical cryptocurrency volatility” and is confident that bitcoin will beat your record from last year.

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    18.05.2018: Bitcoin is no longer popular! China has made a rating of TOP 10 cryptocurrencies

    China has published a ranking of the TOP 10 most popular cryptocurrencies. Digital assets were assessed according to 3 criteria: technology, innovation, application. The results are shocking: Bitcoin was not included even in the top ten.

    Considered 28 of cryptocurrency, the rating is as follows:

  • First place went to an Ethereum – he was awarded maximum scores in innovation and technology.
  • Steem – cryptocurrency social network Steemit to distribute content. The platform is characterized by high transaction speed and reliability.
  • Lisk. A decentralized platform for building applicationsbased Ethereum developers that left the project.
  • NEO. Competitor broadcast, also is a platform with smart contracts for decentralized applications.
  • Komodo. Digital currency combined quality and zcash for bitcoin. A high degree of protection through innovative protocols, secure payment system.
  • Stellar. The platform is designed to facilitate the exchange of Fiat currency and cryptocurrency, as well as payments.
  • Cardano. The blockchain is the platform for building smart contracts and decentralized applications.
  • IOTA. The platform to sell thingswith a high level of protection and its own cryptocurrency.
  • Monero. Currency with a high degree of anonymity, her “trick” – a ring signature by which it is almost impossible to trace transactions.
  • Stratis. A platform for building decentralized applications and implementing them in companies.
  • Ripple the Chinese are not appreciated – it is set in 17th place, Litecoin 21, Bitcoin Cash appropriated in 25th place. Closes rating token NEM. Bitcoin modestly housed in 13th place. For innovation, he was awarded the highest score, but the development of technology of “digital gold” has failed.

    Recall what your rating was and the U.S. Agency Weiss Ratings, in this bitcoin also received a low rating.

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    27.04.2018: Whether it prefers to invest in Bitcoin, and not Bitcoin Cash

    Founder of Fundstrat Global Advisors and captainvalor Tom Lee said that he prefers to invest in Bitcoin, and not Bitcoin Cash, considering the hype around the latest far-fetched and unsubstantiated.

    Your decision Whether commented: “I don’t choose winners and losers. I think Bitcoin, Bitcoin and Cash have their advantages. But if I were investing new funds, it would have been more interested in buying something lagging, are able to attract capital, rather than potentially overbought currency“. Lee believes that Bitcoin Cash “overbought” on the background of future hard forks that increase the block size to 32 MB and will make improvements to the network.

    According to Li, investors warm interest in Bitcoin Cash – this also caused sharp fluctuations. Not so long ago the Manager of the investment company VKSM Brian Kelly urged investors to buy Bitcoin Cash. He believes that the high volatility of altcoins will quickly earn money. Tom Lee is a longtime supporter of bitcoin and has previously stated that by the end of 2018, this cryptocurrency will come to a new level and will cost $25 000.

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