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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Bitcoin

Behold The Cryptopreneurs – Overcoming The Obstacles Facing The Blockchain Industry

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Integrating blockchain technology is fast becoming a necessity for enterprise ventures and small or large businesses, but with a growing number of choices in the tech revolution, it’s difficult to pick a direction without feeling overwhelmed or taken advantage of. This is where BEHOLD THE CRYPTOPRENEURS comes in.

Private keys, the myth of anonymity, and the battle against anarchist ideology are only a few of the difficult challenges faced by businesses that want to incorporate blockchain into their culture. Author Dennis H. Lewis guides the reader through those challenges and helps them discover the true potential of investing in this new economic paradigm.

Every business has pain points that must be overcome in order to branch out and thrive in an ever-changing commercial environment. Blockchain has real world solutions and cryptopreneurs are not limited to the cryptocurrencies they invest in but rather how they seize economic and technological opportunities to make it work for them.

Innovation, trust, and solutions can differentiate your business from all the noise, but without a solid marketing plan, a cryptopreneur can have the best idea and never get far. Remember: a million great ideas times zero market presence equals zero success.

Investors want to know there is public interest and enthusiasm in a project before they commit any money to it. As a cryptopreneur, you are tasked with generating that interest from the…

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