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.
The of Securing the Blockchain Imagine a world without banks, governments, or middlemen controlling your…
Markets brace for as analysts warn As the crypto world holds its breath, markets brace…
, remember your fundamentals Headlines scream about massive Web3 hacks and billions lost in crypto…
Why Is The Crypto Market Down Today? The cryptocurrency market has taken a sharp hit,…
India's Crypto Revolution: A New Era of and In 2025, . The Rise of in…
Is ? In the volatile world of cryptocurrency, where Bitcoin prices swing wildly and market…