Mike Novogratz Says That Financial Institutions Will Come On Board And Crypto Market Will Spike In 2019
Mike Novogratz, a former partner of Goldman Sachs and the founder of Galaxy Digital, expressed optimism in cryptocurrency, saying that the market will eventually spike in 2019 after financial institutions as on board.
According to Novogratz, the bearish trend being experienced now will not last for long. In his opinion, this year has been very challenging for the cryptocurrency market.
Starting A Crypto-Focused Business At Challenging Endeavor
Because of the plunging prices of most cryptocurrencies, Novogratz agrees that starting a crypto-focused business could be a real challenge now. There has been a lot of investors among the market players, with many of them seeing any kind of investors in the sector as a draining affair.
Cryptocurrencies See A Big Hit In 2018
2018 has been the best year for cryptocurrencies since the last peak of 2017. Bitcoin in particular managed to briefly trade at $ 20 in December 2017, but started showing bearish signs in early 2018. Overall, the digital currency has shed off a whopping 80% trading below $ 3k.
Institutions To Rescue The Ailing Cryptocurrency Market
Even if the cryptocurrency market is going to be very soon, Novogratz believes that 2019 will be a great year for the market. The new money will help the cryptocurrency market, see it gain tremendously.
Novogratz also believe that there will be a notable flip next year following a bull run of the cryptocurrency market.