Spencer Bogart maintains BTC Price forecast of $50k, Says Now is a “fantastic buying opportunity”


In a recent talk with CNBC during the ‘Fast Money’ segment, Spencer Bogart, a co-founder and managing partner of Bitcoin Capital discussed the positive side of the present crypto bearish market.

Bogart who has been a great promoter of the crypto space stated that the present downward slide in bitcoin price is not as a result of the collapse, but rather a result of wrong notions of the individual players in the crypto space. He supported his opinion with the fact that in this year, there has been more improvement in the crypto industry regarding infrastructures. The Blockchain Capital Representative pointed out promising areas that indicate a better future for the crypto space.

Increasing Interest in Crypto-based Projects

He believes that with the improvement of these infrastructures and other blockchain based initiatives, there may not be much hindrance in the institutional adoption of the blockchain. There are a lot of investment in crypto-based projects and more support from institutional funding, which shows more interest in the crypto space.

The Future Generation Interest in Bitcoin

Though cryptocurrency space is an emerging market, the young ones are highly captivated by the new internet money which can easily be managed better than the fiat money. Mr. Bogart pointed out that there are indications of a better future for the cryptocurrency because of the increasing interest of the younger generation who are willingly gaining entrant into the crypto industry.

When asked by CNBC anchorperson, Mellisa Lee, whether the best time to purchase bitcoin or other cryptos is when it has fallen down to $3200?


In response, Bogart stated categorically from an investment point of view that even if BTC price has fallen down to $2000 or $1000, it is still the best time for anyone to buy into it. He went on to say that in the next twenty-four months, those who miss this opportunity would look back and blame themselves for not buying bitcoin now.