The Next Phase of the Crypto Revolution (w/ Mike Novogratz and Raoul Pal)
Mike Novogratz, the founder of the crypto bank Galaxy Digital, expects the virtual currency market to return to overall positive dynamics thanks to the support of large investors next year..
During the interview cryptomillionaire said that 2018 was difficult enough for his company, as the business does not fit well with the bear market. However, according to his forecast, in the first quarter of 2019, financial institutions will switch from investing in crypto funds to direct investments in cryptocurrencies. This will help «coup», encouraging the market and resuming the growth of coin value.
Mike Novogratz added that despite the current skepticism in the crypto market, major changes are coming as large companies from the traditional financial sector begin to enter the market. In particular, he noted the launch of the Bakkt digital asset platform by the largest operator of the ICE derivatives market on January 24 and the provision of cryptocurrency management services for institutional investors by the fifth largest financial holding Fidelity Investments..
Although some immediately objected, saying that such statements are not supported by anything, and Mike Novogratz is trying to draw attention to his company. However, he is not alone in his views, and many analysts are also inclined to believe that the growth of the crypto market will recover in the first half of 2019 by creating comfortable conditions for large players. BitPay Commercial Director Sonny Singh recently even dared to give a mid-term forecast, saying that by the end of next year the price of bitcoin will reach $ 15-20 thousand..
However, so far, BTC is far from such a level, since on Sunday its rate broke through the psychological $ 4000 mark.
text: Ivan Malichenko, photo: se5revolution.s3, clickchain