Crypto Hedge Fund Manager States Bitcoin Headed to New All-Time High

Ivy Riane
Ivy Riane
Jul 31, 2018 · 3 min read
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Photo by Yeshi Kangrang on Unsplash

Bitcoin has taken a significant upswing the past few days so speculation has started again into where we are heading next. 2018 has been a rough year for this marketplace so we all want to feel that we aren’t wasting our time or resources by investing in cryptocurrencies or leaving our stakes where they are at right now.

Me, I’ve been focusing on up and coming projects and technologies that are building right now.

Hedge fund managers like Spencer Bogart have been focusing on trend analysis and market activity to determine where prices will go in the future.

At the time of this writing, we ran up and tested the $8,500 mark for Bitcoin before trending down to about $8,200. We have been on a slight bull run recently and it would be nice to see that continue.

What factors will be impacting crypto prices in the near future?

I would say that pending crypto regulations globally will have an impact as well as if big companies start to consider jumping into cryptocurrency in the near future.

What do you think?

Price Predictions

Of course both sides of the house have had something to say about where the price is heading next.

Critics are still claiming that cryptocurrency is a bubble similar to the dot com era while supporters are standing by their position that we are in only a temporary drawback that will launch us forward rapidly like an arrow being released from a bow.

Before we can launch forward, we need to have reached the bottom but have we reached it yet or is this just a temporary bounce?

The most recent bounce jumped off at $6,000 and that’s when supporters voices started to grow louder claiming that we are heading up soon.

In this video interview, Spencer Bogart declares his belief that the pullback momentum has been exhausted and Bitcoin is heading much higher soon after this most recent upswing.

What Will Raise Crypto Prices?

Bogart believes that reasons that will raise Bitcoin price are:

· Trade wars

· Global currency wars

· Approval of ETFs

It may be 2019 before most of these reasons raise the price of Bitcoin past previously held all-time highs. There are many wheels in motion right now like bringing retailers and institutions into the crypto space.

The crypto space seems to be buzzing with activity as of late with trading volume increasing on a global scale and more businesses entering the fray. This is good news because it shows more stability in the crypto economy and stability is always desirable by new investors.

More Advice from Bogart

There have been so many hacks this year that have stolen hundreds of millions of dollars in cryptocurrency that Bogart warns investors to focus on their security measures and make improvements where necessary. If you are hodling crypto then lock it up tight!

And look to startups rather than entrenched innovators because startups can pivot quicker than established entities.

There’s some interesting insight given by Spencer Bogart. I think 2019 seems to be a good estimate as to when many of the changes in the crypto space will be fully apparent.

I would love to have a conversation and hear your thoughts on what the price of Bitcoin will do the rest of the year.

Thanks for reading!

Ivy

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Blockchain and cryptocurrency.

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