Galaxy Digital’s Mike Novogratz: Cryptocurrency Markets Will ‘Flip Next Year’

Mike Novogratz, creator of crypto lender Galaxy Digital, expects cryptocurrencies’ costs to ldquo;begin moving again next year. ”
During the meeting, Novogratz said that “this season has been challenging” to get Galaxy Digital —  a business that he hopes will become “that the Goldman Sachs of crypto” — adding this “it stinks to construct a company in a bear market. ”According to FT, Novogratz forecast that institutions will transition from ldquo;investing into buying cryptocurrencies, in funds appropriate in the next year’s first quarter. ”Just as FT reports, Novogratz additionally called that cryptocurrencies will “flip year” because “that& & rsquo;s prices begin moving back again. ”FT additionally quoted Tim Swanson, creator of fintech advisory company Post Oak Labs, saying that Novogratz was “attempting to predict something that he does not have any sway over” he states “something is going to happen with price. ”Swanson added that companies had tried to do what Galaxy Digital is doing currently without much success, concluding “welcome to four decades back! ”The post also quotes an anonymous creator of a blockchain firm saying that & & ldquo;among the largest issues in crypto is the absence of credible retailer banking” which Galaxy Digital is “well positioned to be the very first to benefit from new markets. ”According to FT, Novogratz said that “it’s easy to become sceptical but there& & rsquo;s something happening” following pointed out cryptocurrency improvements led by important characters in traditional finance.Novogratz in particular cited the forthcoming Bakkt, a digital resources platform produced by the owner of the New York Stock Exchange (NYSE), along with the digital resources management solutions for institutional investors recently declared by significant investment company Fidelity.This week that the Chief Commercial Officer (COO) of international crypto payment chip BitPay also stated that both of these moves from the conventional financial industry can probably induce crypto’s next major costs action. The COO, Sonny Singh, ventured that Bitcoin (BTC) will hit $15,000 to $20,000 at the end of 2019. Bitcoin is currently seeing new multi-month lows, down about 11 percent at press time to exchange at $3,850. […]

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