The Galaxy Digital Novogratz does not wait for the bitcoin price to sink much more


Mike Novogratz, a former member of Goldman Sachs and founder of the Galaxy Digital encryption bank, said he did not expect the price of Bitcoin (BTC) to fall further in an interview published by Bloomberg on December 18th.

Speaking to Bloomberg Television, Novogratz said that there will not be a further fall in the price of Bitcoin, despite the recent decline in the market. Novogratz has predicted that the price of Bitcoin will remain between $ 3,000 and $ 6,000 in the near future.

Continue Novogratz, arguing that the macro trading environment has become more interesting than the digital goods market:

"We are entering a new era for macros, Crypto is less exciting now against macro: Macro has become rather boring for many years and encryption has been really exciting."

The investor has also declared that he is "pretty sure" that Bitcoin will be a digital wealth store, along with the decentralized computer system of the 3.0 world. According to Novogratz, in the near future there will be "many tokenised objects", such as limited partnerships, funds, art and "all kinds of things".

At the beginning of December, Novogratz compared the performance of the cryptocurrency market with a "methadone clinic". He characterized Bitcoin's meteoric growth in late 2017 – which reached the peak of $ 20,000 per currency – "a drug". He defined the period as a "speculative mania", adding that "the public is more sober now – the drug is gone". At the time, the hedge fund manager claimed that the market was characterized by "pessimism" and "fear", with people who expected that the cryptocurrent leader was "zero". "

In November, Novogratz said it expects the cryptocurrency to change "next year" as "prices start to move". Novogratz expects financial institutions to shift from "investing in cryptocurrency funds to invest in cryptocurrencies in the first quarter of next year". ".

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