Mike Novogratz: the stock market reached a minimum, now it will start to rise sharply

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The billionaire is sure that soon the situation will change the industry: digital money is much more expensive

The market of digital money has reached its local minimum on 12 September, says the founder of investment company Digital Galaxy Capital Management Mike Novogratz. He stressed that the Bloomberg Galaxy Crypto (BGCI), which tracks the price movement of digital money, is in the same area as last year, before capitalization of the industry began to grow and eventually reached $830 billion.

“This is a graph BGCI… I think we touched the low of yesterday. Last year again reached the point of acceleration, which led to a massive rally/bubble. Market like returns to a breakthrough,” wrote Novogratz.

Earlier, the billionaire said that the cost of bitcoin will not fall below $6000 in the next 12 months, she began to grow in the long term. He is confident that the capitalization of digital money will again exceed $800 billion by the summer of 2019.

More news on cryptocurrency can be found in our telegram channel RBC-Crypto.

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