Bogart, a partner in blockchain capital, stated that the deeper institutionalization of Bitcoin is generally positive, and that although Bitcoin has fallen more than 50% since the beginning of 2018, it is worth buying anyway. In fact, when cryptocurrencies gradually become widely known, Bitcoin is the only cryptocurrency that people are worth buying.
Bogart said on Friday when accepting CNBC's "Fast Money" program that, although the price of bitcoin has continued to fall recently, it can still be bought now, as bitcoin use cases continue to increase, attracting more Institutional investors enter the board. Bao Jia said: "Every big bank is trying to do something in this area. They are either developing hosting platforms, providing customers with bitcoins, or setting up a bitcoin trading platform themselves. In general, organizations are concerned with bitcoin. The attitude is still positive.” In addition, he also mentioned that it is necessary to sell cottage coins such as Cardano, Tron, IOTA, and NEO, because the prices of many afghan coins are overvalued.
In December 2017, Bitcoin's price soared to around $19,500, which has fallen more than 50% since the beginning of the year. On Thursday, after tightening regulatory review in the cryptocurrency field, Bitcoin prices fell again – prices were less than $8,000.
Bao Jia suggested that anyone who owns digital currency such as wave market currency and small ant currency should sell them. According to FX678, Bao Jia said that the market value of many cryptocurrencies has been overestimated. Their prices may still soar, but in the process, they may face obstacles. However, he also stated that digital currencies such as Bitcoin cash are neutral and he advises investors not to sell these virtual currencies. Bao Jia said that by the end of 2018, Bitcoin's price should be at least 10,000 US dollars or more, but he admitted that the rise in bitcoin prices will not be smooth sailing.
Bitcoin charts for the past five days