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Spencer Bogart: there are still many potential Bitcoin buyers

In a recent interview to the press, Spencer Bogart, partner of Blockchain Capital, has made some interesting remarks regarding the current state of the cryptocurrency market and its future prospects.

02-05-2018 21:00:00  |   Investments

As he thinks, the recent move made by Goldman Sachs is not a total revolution, but some banks may try to step into the field of crypto derivatives as well, which in the long term will benefit the corresponding market. Spencer Bogart is aware that this vast financial firm had decided to only try out contracts connected with Bitcoin without actually using the cryptocurrency, but they or their rivals might make the next logical step and try to act as an actual crypto exchange service later. Of course, this is only a hypothesis.

Another notable topic of the interview is the number of those who bought Bitcoin and of those who still did not. The second group of people is still very large, the market observer reminds. These first-time buyers will influence the market in the future and the main drivers of this process will be popular trading mobile apps similar to Robinhood and Coinbase. As a result, this massive wave of newbies will drive up the price of Bitcoin and altcoins even higher.

Image courtesy of Getty Images

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