One year after Bitcoin (BTC) broke crypto industry records to hit $20,000, a partner at venture capital firm Blockchain Capital says that today’s bearish market represents “a fantastic buying opportunity.” Spencer Bogart partner off venture firm dedicated to investing exclusively in the crypto and blockchain industry.
The coin, however, is over 82 % down from its price point this time last year. Noted that (up until recently) the Bitcoin market has been almost entirely driven by retail traders [investors].
Where is Bitcoin Headed to?
Many prominent investors and analysts including ShapeShift CEO Erik Voorhees, billionaire investor Mike Novogratz, and Fundstrat’s Tom Lee have said in the past that the worst part of the correction is over.
The market has started to demonstrate seller fatigue and some cryptocurrencies like XRP and Ethereum, which recorded 75 percent drops in the period of April to September, have initiated impressive corrective rallies with strong volume and momentum.
The VC exec stated that 2018 has seen major advancements in scaling, with the Lightning Network helping to “transact extremely cheaply, and extremely quickly.”
