Spencer Bogart says prices are artificially low. BTC/USD is trading above short-term MAs. As Bitcoin bounced back after crashing below $6,000 at the end of the previous week, some crypto bulls come out with optimistic views. Thus, blockchain venture capitalist Spencer Bogart is sure that current prices have been unjustifiably low, which may result in strong growth once the correction from a stellar rise in 2017 is over. A whopping number of crypto hedge funds created back in summer 2017, now “hitting their one-year lock up”, he explained in the interview with CNBC. “They’re saying, ‘hey, I want to redeem out of that fund,'” Bogart said. “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.” Bitcoin technical picture BTC/USD is trading above all 30-min MAs, which is a positive intraday signal. The digital coin No.1 is changing hands at $6,246, off Monday’s high reached at $6,300, but still in the green zone on daily basis. Once $6,300 handle is cleared, the ultimate resistance of $6,400 with come into focus. A sustainable break higher is vital for extended recovery. BTC/USD, 30-min chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Central Banks: Beginning of the end of monetary policy normalization – Nomura FX Street 4 years Spencer Bogart says prices are artificially low. BTC/USD is trading above short-term MAs. As Bitcoin bounced back after crashing below $6,000 at the end of the previous week, some crypto bulls come out with optimistic views. Thus, blockchain venture capitalist Spencer Bogart is sure that current prices have been unjustifiably low, which may result in strong growth once the correction from a stellar rise in 2017 is over. A whopping number of crypto hedge funds created back in summer 2017, now "hitting their one-year lock up", he explained in the interview with CNBC. "They're saying, 'hey, I want to… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
