Now it's a fantastic time to buy Bitcoin (BTC), says Blockchain Capital's Bogart

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The tide of cryptocurrency is changing. On Monday, a year since Bitcoin (BTC) exceeded $ 20,000 in an incredible turnaround, the cryptography market in general had its first two-digit rally in weeks. In just a few hours, BTC found itself up 9%, with altcoins outperforming the main cryptocurrency.

And with this only increase, which comes after a crisis of several weeks, the eyes of a multitude of interested investors have landed on this nascent industry. So it should not be surprising that the question that remains in everyone's mind is able to encrypt the boom in 2019. Or, more importantly, what will advance cryptocurrencies in the near future.

"The fundamentals of bitcoins have not changed"

Blockchain Capital, widely referred to as one of the "800-pound gorillas" of the crypto-industry, has recently seen its de facto nominee – partner Spencer Bogart – participate in the CNBC "Fast Money" segment to take a look at the underlying status of crypto. Bogart, who has a particular interest in the success of this innovation, has painted cryptocurrencies in a positive light.

Bogart opened its segment by making clear that BTC's journey to the stratosphere and its subsequent collapse was catalyzed by the overabundance of retail speculation, rather than by the collapse of this industry. "The reality is that the fundamentals have not changed," said Bogart, before adding that in addition to the price, 2018 was a stellar year for cryptocurrencies.

Blockchain Capital's partner explained that Crypto's infrastructure has improved unmatched this year. For example, 2018 was the year in which the Lightning Network, a potentially revolutionary second-level scaling solution for Bitcoin, achieved real world traction. The arrival of the protocol, in addition to similar initiatives on other important blockchain networks, can catalyze a period of unbridled adoption and the growth of this sector.

Returning to the comments he made on previous guest appearances of the CNBC, Bogart then drew attention to a series of raids by institutional bigwigs, which he believes can support this industry. The guest of Fast Money in particular drew attention to investments in crypto-centric initiatives and funds from noteworthy endowments, such as Yale University, MIT and Harvard University.

The representative Blockchain Capital is not the only member of the sector to see an immense value in allocation allocations in cryptocurrencies. Michael Bucella, a member of Ari Paul's BlockTower Capital, recently said that even in gloomy market conditions, the "smarter money" in the world continues to rush into a crypto en masse. With "smarter money", Bucella obviously means the unprecedented mass of investment hotshots and institutional actors, namely Yale's David Swensen.

Not only are families channeled into cryptocurrencies, but also institutional incumbents with far-sighted commercial strategies. The Nasdaq, for example, recently made a series of announcements, highlighting its belief that blockchain technologies and resources based on it will be relevant for the future. The rival of the Nasdaq, the Intercontinental Exchange, made a similar statement, with its chief executive, arguing unequivocally that the cryptocurrencies "would survive".

Bogart recognized all this and more, alluding to his thought process that this child industry has nothing to fear. He then drew attention to the "most encouraging" indicator – the "quality of talent" that continues to arrive at the gates of the crypt. The seemingly irreducible has noticed that many "young people" have been captivated by what Bitcoin has to offer, with the "best and brightest" in the world asking to enter this industry. This, by itself, shows that cryptocurrencies could have a bright future.

Related reading: Crypto markets may be in a route, but the Blockchain labor market is in full swing

Now it's a "fantastic buying opportunity"

Still CNB Mellisa Lee then asked the bull the million dollar question – the decline to $ 3,200 was a great time to buy BTC or other assets encrypted from a value investment point of view ? Maintaining his bullish point of view, the zealous supporter of the crypt said that while prices could continue to fall, "from here to $ 2,000, $ 1,000" remains a "fantastic buying opportunity". He added that between 18 and 24 months from now, many would look back hindsight and claim "because I did not buy there".

This joke has logically led to questions about future BTC price action. The CNBC host, innocently fishing for an encrypted forecast, asked industry in the industry if it agreed with the requests that BTC could have eclipsed $ 50,000 a year. The Bitcoin supporter noted that yes, Bitcoin could violate the price level mentioned above, more than twice as high as its historical highs, since the crypt rating models are not restricted by PE ratios (profit prices), but rather from the value of the network. Yet, the US cryptic entrepreneur has made it clear that he does not know when that epochal event can be realized.

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