In the interview, Spencer’s statement showed a more optimistic tint as he went on to say that he had expected to see a new high in bitcoin after a series of lows and that the lows are already in.
Bitcoin had a blasting entry, with hitting over $20,000 mark just before the year began. Even for the last few months, Bitcoin may have seen a historic low of $6000, but is on a bullish rise now. The cryptocurrency was recorded to have hit the $8500 mark during May after which it retracted back to $6000; again hitting the $8500 and going back to $8200 towards the end of July.
Since the coin bounced up after it $6000 low, it has reinforced the voices of many who are in support of cryptocurrency and ETF. According to Spencer Bogart, the coin is bound to rise as the factors causing its pull-back have lost momentum. He stated that factors like Global currency war, trade wars or an ETF approval can act as a catalyst and cause the coin prices to explode.
He said:
“It’s Possible we’ve seen the lows, and I’m definitely expecting to see new highs, I mean, listen I think prior times I’ve been in the show I’ve said expect to see new lows before new highs… That low may already be in.”
Spencer Bogart elaborated on the point of ETF, stating that 2019 may be the year when an ETF can be approved by the SEC. After the two rejections of the Winklevoss, the SEC has been taking the matter of ETF and offshore trade security seriously as the need of an ETF has become important not only from a legal but economic point of view.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…
Did you know that 85% of DeFi value is concentrated in six blockchains? DeFi is…
CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…
Join us at BFC 2024 to explore the future of Web3. Use a special discount…
Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…