Bitcoin Price May Rise By 30% By End Of Year — Mike Novogratz
Bitcoin's price in the current year has reached its lowest level, but the price for the first cryptocurrency may rise by 30% by early 2019. Mike Novogratz, the head of Galaxy Digital, made this forecast in an interview with CNN Money.
The businessman predicts the crypto market growth as a whole. His confidence is based on market trends – large companies begin to take cryptocurrency more seriously. Starbucks and Microsoft will allow using bitcoins, Novogratz stressed. When people start to perceive something new with comfort, the popularity of such things increases.
Large institutional investors come to the crypto market, showing the syndrome of lost profits. They are afraid of being left out and be out of touch with the modern trends in the sphere of finance. Thus, bitcoin may enter the financial portfolios of many people. They will begin to perceive the first crypto as a valuable asset on a par with gold, and it will become part of the operations of pension and other funds.
Mike Novogratz believes that the bitcoin's price will rise by almost a third by the end of the year, and its growth will continue in Q1 2019.
Galaxy Digital is one of the most active participants in the crypto industry. In May, Galaxy specialists in conjunction with Bloomberg launched a price index, which allows monitoring the ten most liquid cryptos. Referring to the data of the index, Novogratz stated in the middle of September that the crypto market reached its bottom.