Spencer Bogart adheres to his forecast about the growth of Bitcoin to $ 50 thousand.

Spencer Bogart does not refuse

In his interview with CNBC, the partner of Blockchain Capital, confirmed his position and expressed confidence that the cost of BTC will be able to grow more than 14 times compared with the current value. However, this time he did not decide to indicate the specific time framework of the forecast, explaining this by being a long-term venture investor, therefore it is not focused on short-term price fluctuations.

According to him, the coin will reach this level, but it is still unknown, how much time it takes. By adding that the calculations of the ratio of prices for profits or capital costs that establish boundary indicators for young technological companies are not applicable to Bitcoin.

During the year, many experts predictive tremendous growth refused their predictions or significantly changed them, but Spencer Bogart is confident in the potential of the first cryptocurrency. Moreover, it recommends not to focus on the price and considers 2018 the «fantastic» for Bitcoin, because active work on scaling using Lightning Network, which allows you to make quick and cheap transactions.

The partner of Blockchain Capital also pointed out the growth of the institutionalization of the VTS and the interest of large stock exchanges, investors and funds. Nevertheless, in the short term Spencer Bogart does not exclude the possibility of falling the course to $ 2 thousand or even $ 1 thousand, but by the end of 2019 it predicts growth to $ 10 thousand.

Recall that on the anniversary of the achievement of a bitcoin of a peak at $ 20 thousand, the cryptocurrency market began