Bitcoin is close to bottoming, cryptocurrency expert says
Channel: Bitcoin # ICO & Airdrop Review
Date: 06/10/2018

#bitcoin #cryptocurrency

Bitcoin is close to bottoming, and once it rebounds, this week's developments will fuel its climb, said Spencer Bogart of cryptocurrency and blockchain venture firm Blockchain Capital.

Cryptocurrency has had a big week. On Wednesday, TD Ameritrade announced a strategic investment in an exchange called ErisX, which offers both bitcoin spot and futures trading. High-speed trading company Virtu Financial will also back the exchange. On Thursday, cryptocurrency index fund leader Bitwise Asset Management announced an investment from longtime financial advisor and billionaire Ric Edelman, who also joined the advisory board. And on Friday, David Swensen, who's known as Yale's Warren Buffett, made his first big bets on crypto, investing in two venture funds dedicated to cryptocurrency.

Despite the news, bitcoin has hovered around $6,600 all week.
Bitcoin was last down 0.81 percent at $6,608.74, according to Coindesk. Bitcoin briefly topped $19,000 in December, before losing more than half its value.
- Chloe Aiello | CNBC