Michael Novogratz: bitcoin bear market is completely exhausted

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Founder and head of the investment firm Digital Galaxy Capital Management Mike Novogratz said in an interview with Yahoo Finance that the bear market has reached the point of utter exhaustion, confirming his words that the price of bitcoin has reached the bottom.

In her presentation on “All Markets Summit”, the Novogratz, who said last week on his Twitter account that the cryptocurrency market ceased to fall, expressed the opinion that the fall of bitcoin in the course of this year is another demonstration of the stability of the currency.

“Bitcoin held above $6 000, once again proved itself as a means of capital saving. I think that financial institutions are prepared to inject major investment into the cryptocurrency market, most likely, it will happen in the next 2 years”.

Novogratz also compared the current climate in the cannabis market with what is happening in the cryptocurrency market in 2017.

Recall that billionaire Michael Novogratz earlier in the course of new York Bloomberg Invest summit, expressed the opinion that the cryptocurrency market moves to around $ 20 trillion.

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