Mike Novogratz Predicts Institutional Piles to Flow in Cryptos Next Year

post image

Bitcoin will not hit the margin of $10,000 this year, believes Mike Novogratz, a prominent cyber money supporter and investor. However, there is a possibility the BTC rally will take place next year, not in 2018, he said.

Bitcoin to Rally Thanks to Institutions

On October 15, Mike Novogratz appeared to be the guest at Bloomberg, where he talked about bitcoin’s prospects in 2018-2019. Novogratz is a famous BTC enthusiast, he is an originator of The Galaxy Investment Partners and often talked about bitcoin in a positive sense.

However, this time he spoke about it in less bright and promising terms — it is not likely bitcoin will surge till $10,000, according to Novogratz. The investor believes now it will take more time for prices to get higher because of investors who, most probably, will put their money in cyber assets only in 2019. 

In the conversation with Bloomberg host, Novogratz singled out:

“...I think Q1 [or] Q2 [2019] if the institutions start coming in, we’ll put in new highs.”

Fidelity Case

Novogratz also commented on the news that financial services giant Fidelity is launching a separate division to offer storage and trading services to institutional investors. The BTC bull forecasted Fidelity will begin running the trading platform at the beginning of 2018. 

He said this move is a positive issue for bitcoin but Fidelity will have to test the platform before exposing its clients to it, and it, apparently, requires time. 

Once the platform is launched, in a few months the institutional flux will start running into crypto-sphere. Most probably, as per Novogratz, this will happen in the late first or an early second quarter of 2019. 

Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of cryptocurrency....
BTC Starter Kits & Crypto ATMs: House of Nakamoto Opens in Amsterdam
Bitcoin-beginners in Amsterdam can now seek support in the House of Nakamoto, a newly opened branch of the Austrian self-titled project. The latter guides...
Bitcoin Breaks into The Rap-World Again: Soulja Boy’s New Song About Crypto
Soulja Boy, a 28-year-old American rapper and entrepreneur released a song merely called «Bitcoin.» The song is a part of his recent album “Young Drako,»...
Austrian Bank Will Use Ethereum Blockchain For Issuing $1.35 bln Bonds
Ethereum blockchain will soon be used for knitting a huge quantity of government bonds in Austria. According to local media, this will be the first time...
Bitcoin Might Soon Drop to $6,000, Says Fundstrat’s Technician
Bitcoin might soon see another considerable connection. According to a Fundstrat’s technician bitcoin is ‘living on the edge.’ If it sustains its $7,500+...
Crypto-Expert Puts $6 mln on a Bet that Bitcoin Reaches $280k by 2023
As the last months of 2018 are fast approaching, crypto-enthusiasts keep forecasting the potential price of the "king of all cryptos." There have already...
Fundstrat’s Tom Lee Says Bitcoin Will Be $25,000 By The End of 2018
Before 2019 comes, bitcoin might rise in price to the margin of $20,000, said the main Wall Street strategist who issues BTC price trades Tom Lee. According...
Pitbull Will Invest in a Blockchain Solution For Music Industry
Blockchain may soon shake up the realm of music as Armando Perez, more known as an American rapper Pitbull, or Mr. Worldwide announced his plans to set...
Steven Seagal-Endorsed ICO Bitcoiin Sees Restraining Order From US Officials
The precarious ICO Bitcoiin, initially supported by the noted American actor Steven Seagal, has received red light form the US legal system. In particular,...
LavkaLavka Attracted $16 Million On ICO
LavkaLavka Moscow farm cooperative LavkaLavka attracted more than $16 million on the ICO, which took place from January 1 to February 18, 2018. Thus,...
Telegram Pre-ICO Attracted $850 million
Pavel Durov, the creator of the Telegram messenger, reported on the progress of the ICO, which was announced earlier. As it turned out, investors invested...
Hedge Fund Manager Invested 90% of His Money In Bitcoin. Here’s Why
While lots of prudent investors argue whether it is better to purchase the whole bitcoin or just its fraction, some bullish bitcoin supporters pile thousands...
South Korean Finance Minister Says Blockchain Can ‘Change The World’
After confirming that South Korea has no intentions to ban cyber money trading, the state’s finance minister Kim Dong-yeon came up with another crypto-friendly...
Bitconnect Closes the Platform For Cryptocurrency Exchange
"A financial pyramid" by Vitalik Buterin - the Bitconnect project, which caused a lot of doubts in the crypto community, announced that the platform for...
The Market Capitalization of the Cryptocurrency Exceeded $700 Billion
The new year began with the activation of the upward movement of most of the most liquid cryptos. As of January 4, the total market capitalization of digital...