Spencer Bogart sticks to his forecast of bitcoin growth to $ 50 thousand.

Spencer Bogart does not abandon his forecast last year and still believes that the bitcoin rate will reach $ 50 thousand in the long term. He also names 2018 «fantastic» for cryptocurrency and recommends forgetting about price fluctuations.

In his interview with CNBC, the partner of Blockchain Capital confirmed his position and expressed confidence that the value of BTC could grow more than 14 times. compared to the current value. However, this time he did not dare to indicate a specific time frame for the forecast, explaining this by the fact that he is a long-term venture investor, therefore he does not focus on short-term price fluctuations..

According to him, the coin will reach this level, but it is not yet known how long it will take.. Adding that Bitcoin’s price-to-earnings ratios or cost of capital calculations are not applicable to Bitcoin, setting the boundary for young tech companies.. 

Spencer Bogart sticks to his forecast of bitcoin growth to $ 50 thousand.

During the year, many experts predicting colossal growth abandoned their predictions or significantly changed them, but Spencer Bogart is confident in the potential of the first cryptocurrency. Moreover, he recommends not to get hung up on price and considers 2018 «fantastic» for bitcoin, because active work has begun on scaling using the Lightning Network, which allows you to make fast and cheap transactions.

The Blockchain Capital partner also pointed to the growing institutionalization of MTC and the interest of large exchanges, investors and funds. Nevertheless, in the short term, Spencer Bogart does not exclude the possibility of a fall in the exchange rate to $ 2,000 or even $ 1,000, but by the end of 2019 he predicts an increase to $ 10,000..

Recall that on the anniversary of Bitcoin’s peak of $ 20,000, the cryptocurrency market began to grow rapidly..

text: Ivan Malichenko, photo and video: CNBC Television

Spencer Bogart sticks to his forecast of bitcoin growth to $ 50 thousand.

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