Mike Novogratz is an exceptional influencer and bitcoin billionaire in terms of cryptocurrency. Also, he is the CEO at Galaxy Digital, basically a digital currency merchant bank. Moreover, he agrees on the crypto winter to last a bit longer than expected. Despite the avowed bitcoin bull, on the other side, Goldman Sachs alum has hopes on institutional investors to eventually seek entry within this market.
The future is coming fast. https://t.co/z9F2jhXShb
— Michael Novogratz (@novogratz) February 3, 2019
According to the reaction and replies of this great influencer, he has been always motivating and positively related to what’s going within this industrial market.
Another tweet by Novogratz reads: “Don’t think we head north for at least a few more months. Always take longer for institutions to move. Very confident they will, tons of activity under the hood. Stay the course”.
Moreover, he feels confident about institutional investors to enter the market with great flood within this space. On the other hand, blockchain is making its way into mainstream adoption in various sectors.
Realizing having tweeted about crypto in a while. It’s a grind. Don’t think we head north for at least a few more months. Always take longer for institutions to move. Very confident they will. Tons of activity under the hood. Stay the course.
— Michael Novogratz (@novogratz) February 1, 2019
The sustaining market slump has affected a majority of crypto enthusiast and businesses to scale back their exuberance. According to Novogratz, he feels he is one amongst them. Back in November, he had boldly set a target regarding bitcoin price worth of $10,000 for the first quarter closure of 2019.
He has also made a prediction considering BTC to hit $20,000 this year i.e. 2019. However, during the continuing market slump there were no signs of instant reversal; still, Novogratz has now eventually adopted more sober stance along with outlook.
Traders Were Waiting For Bitcoin To Move Into Dust
On the other hand, some sceptics facing the crypto winter were bidding on the crypto market to crater within extinction. This is not a surprise, as their vocal opponents are users from traditional financial institutions along with legacy banks who have been hampered with the rise of crypto industry.
Just after few weeks, Anthony Grisanti who is a futures trader announced his prediction about the bitcoin price that will soon tank under $3,000 worth amid a massive sell-off. He is a CNBC analyst who traded energy futures direct at Bear Stearns.
Grisanti like various crypto naysayers believes this period to be only a matter of instance that will see bitcoin to completely collapse. Moreover, he claims while the prices of bitcoin rally a bit, this is simply due to the people’s position that is liquidating with time
One of the fellows of Grisanti, Scott Nations recently also blasted bitcoin expressing that it has no value. Also, he took a stance to mention a bold statement on crypto fans, noting that they are too inexperienced to better understand what they are witnessing a bubble that’s bursting.
If you are in your 20s, you have never seen an asset bubble. You were a teenager during the housing bubble. You were not even a teenager during the dotcom bubble. Well, baby, this is a bubble! And right now, it’s coming unglued.
There are many critics talking against bitcoin bulls including Dan Morehead, Circle CEO Jeremy Allaire, Mike Novogratz, and the Winklevoss twins to be unrealistically optimistic. This might be possibly due to their skin within the game.
They haven’t been found just talking the talk; in fact, they are walking the walk. They have already made lots of their money invested for the success of the entire industry as a whole. Hence, they feel exclusively motivated ensuring it thrives.
Same happens in a previous month, where Novogratz raises his holdings relating Galaxy Digital right to 79.3% just after he attains an additional worth 2.7% from its outstanding shares for around $5.4 million. Moreover, he previously holds a stake of worth 76.6%.