Mike Novogratz Says Crypto Prices Have Reached Bottom

Mike Novogratz Says Crypto Prices Have Reached Bottom

A significant opinion leader in the niche of cyber-money Mike Novogratz, who also is a founding father and the top exec of a virtual-asset-business-organization Galaxy Digital Capital Management, has made a statement regarding cryptos this week. 

Novogratz has asserted that prices of virtual coins have reached the bed this week.

The Price Bottom’s Reached

This week Novogratz has written in his Twitter that on September 13 crypto prices saw the underworld. He also singled out that Bloomberg Galaxy Crypto Index (BGCI) altered the peaks of last year’s end as well as the point of boost which drove to a huge bubble. 

It is worth mentioning that BGCI is a special index created to gauge the performance of the most considerable cyber-coins in USD.

Earlier Predictions From Novogratz

Previously this summer Novogratz took the floor at a conference called Beyond Blocks (South Korea). Back then he "prophesied” that numerous entities would break into the cyber-money market within the following 2-3 years. 

Nevertheless, according to his words, a much sprawling adoption of digital assets and DLT will take place not earlier than in five years. One of the main causes for it would be the outlay on tech «talent.»

Also in summer, Novogratz’s firm Galaxy Digital promulgated its first-quarter report for this year. It indicates that there have been lost $134 million with $85.5 million as an unrealized loss on cyber-assets. In mid-spring, Galaxy Digital owned $281.7 minion in crypto-possessions. $225.8 million out of them were crypto piling. 

As per the data represented on Coinmarletcap.com, the 24-hour trading volume of the crypto-market constituted $10.7 billion. In the meantime, the most valuable cyber-coin in the world bitcoin is being traded at the margin of $6,531 per unit.

Image Source: Flickr

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