Partner of venture Capital company Blockchain and one of the leading bitcoin analysts on wall street Bogart Spencer (Spencer Bogart) believes that bitcoin and the stock market has almost reached bottom, and the events of this week can be the basis for its further growth and “important elements in the way institutional investors in cryptosphere”.
“We got down by 70% from peak prices, so I think that bitcoin is close to the end of the decline, as the market…
At the end of last year, at the peak of the bull market, it seemed that bad news have no effect… Now we are seeing the reverse situation: after news this week related to TD, Rick Edelman (Ric Edelman) and Yale, the prices have not changed,” said Bogart in a live CNBC.
Recently the brokerage firm TD Ameritrade invested in the launch of new regulated cryptocurrency exchange ErisX, Bitwise Asset Management received the investment from a financial adviser and billionaire Rick Adelman, who became its Board of Directors, and the team that manages the Fund of Yale University at $29.4 billion, entered the market of digital assets by investing in two cryptocurrency Fund. Bogart believes that the effect of the news will take time, but each of them will contribute in the next growth market.
Recall that an American billionaire Mike Novogratz (Mike Novogratz) stated that the cryptocurrency market, in his opinion, was the “bottom” three weeks ago. He believes that, according to Bloomberg cryptocurrency Crypto Galaxy (BGCI), the market again reached a “point of acceleration”.
Source
