Bitcoin (BTC) Looks Good Right Now, says Blockchain Capital partner Spencer Bogart - Global Coin Report
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Bitcoin (BTC) Looks Good Right Now, says Blockchain Capital partner Spencer Bogart

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Following a tumultuous Friday evening in the cryptocurrency markets and a similarly shaky weekend, Bitcoin (BTC) managed to bounce back to levels above $6,200 late on Sunday and depending on your time zone. the King of Crypto had seen its value depreciate to new low levels of $5,800 on the same Sunday. BTC is currently trading at $6,183 and has exemplified stability in the last few days.

It is therefore not surprising that Spencer Bogart, a Blockchain Venture Capitalist, is very much bullish about the digital asset and the entire cryptocurrency market in general. In an interview with CNBC, Bogart stated that:

“I’m super bullish on crypto right now…I think the prices are pretty good right now if I was looking into going and buying something like Bitcoin”

He also cautioned against waiting for Bitcoin to bottom out as is the current conversation amongst traders hoping to buy a lower priced BTC:

“Most people that are going to wait for lower prices will end up paying higher prices than they are today. So I think the right move is to not try and time the market and try and average into it.”

Bogart would also postulate that the price of Bitcoin might drop a bit further as follows:

“If we go back to the summer of 2017 when crypto prices were booming, there was about a 100, 200, maybe 300 new crypto hedge funds that were formed…many of these funds are hitting their one-year lock up…They’re saying, ‘hey, I want to redeem out of that fund’…That means forced selling on behalf of all of these new crypto funds that have popped up. I think that could take prices artificially lower.”

To add on Mr. Bogart’s comments, many seasoned Crypto-traders believe the crypto markets are behaving like they are supposed to. After every market rally, there is bound to be a phase of serious market correction that will leave many inexperienced traders and HODLers panicking and force selling. The best course of action is to learn from previous mistakes of probably being caught up with the hype of Bitcoin and crypto that started mid last year. Once traders learn from their mistakes, they can make wiser investment options moving forward with ‘battle wounds’ in the form of losses and lessons.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Cryptocurrency Fraud is Evolving; Bitcoin ATMs Mitigate Risk 

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Cryptocurrency Fraud is Evolving
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In one of the more overlooked aspects of the crypto ecosystem, it appears that the bulk of illicit activities are shifting from hacks and thefts to cryptocurrency fraud and scams.

CipherTrace, the crypto-surveillance, and analysis firm released a report at the end of Q4 2019 that revealed hacks and thefts had decreased by 66 percent in 2019 while fraud and misappropriation of funds surged by 533 percent. And beneath the COVID-19 hysteria of 2020, hacks in the crypto sector have been eerily isolated. 

Outside of a few exploited flaws in P2P exchanges and DeFi flash loan vulnerabilities, the headline-grabbing hacks of exchanges for hundreds of millions of dollars have been absent so far this year. Is the industry due for another massive hack, or are stringent KYC/AML processes, regulatory crackdowns, better security practices, and blockchain surveillance working? 

KYC/AML Improvements Are Reducing the Appeal of Crypto Exchange Laundering 

2020 is far removed from the no-KYC wild west days of the early-mid 2010s where anonymous altcoin casinos preponderated and the Dark Underbelly of Cryptocurrency Markets thrived. 

Today, bitcoin and the crypto ecosystem is becoming institutionalized with a surfeit of derivatives (e.g., options, futures, perp swaps, etc.) available on…

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IE Option – 91% Profit on BTC Fluctuations in Every 60s

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On Thursday, Bitcoin price broke below $6,700 and hit the weekly low to $6,480. Then, it rebounded back above $7,000 again with an increasing rate of 5%. At press time, based on the incomplete statistics, more than $720 million worth cryptocurrency futures contracts have been liquidated in this week. During the strong market fluctuation, investors are learning a hard lesson about the downside of cryptocurrency futures trading with leverage. 

Since we know that we cannot make money by investing in BTC spot trade during the bear market, and we notice the high risks of liquidation by trading leveraged bitcoin futures contracts, how can we hedge the loss in spot trade and profit from the BTC market volatility? 

BTC Option is a profitable trading product that you can turn to!

What is Option?

Option is a type of crypto derivative contract which enables investors to make speculative bet on price rising and falling. Call option means that trader long BTC at a given strike price, while Put option allows trader to short BTC at a given strike price. 

For example, if you predict that BTC price may surge, you can buy a call option. Suppose that you buy a call option at $7,000. As long as price exceeds $7,000, you can make profit. 

IE Option – Get…

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4 things you should know about bitcoin casinos

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Bitcoin casinos
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Bitcoin Casinos are the ideas of innovation, firmly moving towards the goal of disrupting the whole Gambling Industry. Best Bitcoin Casinos are the true trailblazers of the new era of gambling. Their creators quickly recognized all the immense potential that blockchain and cryptocurrencies contained within themselves. Most of the top Crypto Casinos started operating in the first half of the past decade and are quickly moving towards being the dominant force, when it comes to online gambling. There are a couple of key characteristics and advantages that elevate BTC Casinos above the rest of the competition on the market.  

Trusted casinos have fast withdrawals

Only the Best Bitcoin Casinos offer players the benefits that come with using cryptocurrencies as the main source of finance. One of the biggest advantages that BTC Casinos have over the rest of the competition is speed. When using cryptocurrencies, players can deposit and most importantly withdraw their money with blistering speeds. Thanks to blockchain technology, all the financial transactions are completed within the minutes of request. Alternatively, standard online casinos operating under the guidance of classical banking intuitions, need several days to complete the same procedures.

In BTC Casinos anonymity matters 

Another amazing benefit of Bitcoin Casinos is the ability to stay completely anonymous during the transactions and gameplay. Thanks to the…

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