Michael Novogratz Shares Bearish Bitcoin Prediction

  • Alex Dovbnya
    📰 News

    Michael Novogratz, CEO of crypto firm Galaxy Digital Capital, earlier said that Bitcoin would skyrocket to $40,000 in 2018. Now Novogratz voices a more prediction


Michael Novogratz Shares Bearish Bitcoin Prediction

Michael Novogratz, CEO of crypto investment firm Galaxy Digital Capital, earlier said that Bitcoin would skyrocket to $40,000 in 2018. Now, after the flagship currency lost more than half of its price since its December’s peak, Novogratz voices a more humble prediction. According to CNBC, the Wall Street doesn’t see Bitcoin above $9,000 this year, thus excluding the possibility of a major bullish trend. However, he is still certain that the currency will be above $10,000 in Q1 or Q2 2019.

As U.Today has reported recently, Novogratz claims that the cryptocurrency market has already reached its bottom, but crypto enthusiasts have to wait until more institutional investors get into the crypto space.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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