Bitcoin reaches the 8000 dollar mark - Clem Chambers

Matt Brown talks to Clem Chambers, CEO and Founder of ADVFN to discuss Bitcoin as it reaches the 8000 dollar mark compared to other cryptocurrencies.  Clem points out that Bitcoin has reached over six thousand pounds a coin and says the market will see ten thousand dollars very soon.  Despite this some of the alt coins are also moving because of the interest in alternate versions of Bitcoin.  However Bitcoin has become stronger since the introduction of the alt coins, which has sucked money out of the alt coins and back into Bitcoin.  With many traders having returned to Bitcoin, liquidity has been drained out of smaller cryptocurrencies.  

Clem points out that the overall market cap of the sector is still small around two hundred and fifty billion.  He suggests that reaching a trillion would not be a big stretch and thinks it will arrive there in a short order.  

Clem also highlights how Bitcoin, cryptocurrencies and Blockchain are attracting huge media attention but says that the bad news is Bitcoin is still rather small.