Fence Finance Sell-Offs ‘Could’ Misleadingly Low Bitcoin Costs, Predicts Blockchain vc

2018-6-26 20:58

Blockchain venture capitalist Spencer Bogart forecast “artificial” Bitcoin price suppression June 25 as hedge funds near the end of their lock-up period.
Speaking to CNBC, Bogart, who earlier this week claimed Bitcoin would be above $10,000 by the end of the year, warned over “forced selling” which would drive markets lower.
I think that could take prices artificially lower.” Bitcoin successfully rebounded after trading under $5,800 Sunday, the widely-predicted drop below $6,000 coming despite news defunct exchange Mt.
Gox had ended the giant sell-offs which had previously taken prices lower.
“Hundreds” of hedge funds began trading one year ago as Bitcoin began markedly increasing in value, Bogart explained, nonetheless remaining buoyant about the future market, implying any suppression would be temporary.

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