Crypto Investing Leader Mike Novogratz Says Bitcoin Rally Will Happen In 2019
Novogratz Believes Bitcoin Rally Will Happen In 2019
Michael Novogratz is one of the most prominent investors of the cryptocurrency market at the moment and he has made some mixed predictions for Bitcoin recently. He was recently interviewed by Bloomberg and affirmed that he does not see the price of Bitcoin rising to more than $10,000 USD until the end of 2018.
However, not all of his predictions are negative, as he sees a good possibility that the market will see a new rally next year. Why? Because of the institutional investors, of course.
It is something well-known at this point that as most of the Bitcoin hype is now dead, the investor push is almost the only thing that can make the market have a rapid increase in price again. However, most people are waiting until the U. S. Securities and Exchange Commission (SEC) decides to approve the long awaited Bitcoin ETF.
This, Novogratz believe, could lead institutional investors to put some money into the market which could boost the crypto market for once and for all into what most people are only dreaming that it will be one day.
In related news, Novogratz’s Galaxy Investment Partners will be one of the first customers of Fidelity Investments, which will start to invest in cryptocurrencies now.