Mike Novogratz: Bitcoin will cost more than $20,000 in the next year

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The head of the Galaxy Digital cited several reasons due to which the price of the first crypto-currencies will increase in 2019

By the end of this year the price of Bitcoin should rise above $6800 to reach the level of $9000, the head of the Galaxy Digital Mike Novogratz. He said that in this case, in 2019, the cryptocurrency may update the maximum value, according to Financial News.

“Until the end of the first quarter of next year bitcoin price will rise to $10 thousand, then we are waiting for new top — $20 thousand and above,” said Novogratz.

The billionaire said that after the launch of platforms Fidelity Digital Assets and Bakkt in the industry comes from institutional investors (major insurance companies, funds, etc.). They will influence the new explosive growth in the cost of digital money, a role to play in this syndrome is loss of profits when asset buying for fear of not manage to capitalize on the growth of its value. Largely because of this, bitcoin has significantly risen in the past year, said the expert.

Governments of major countries will have a positive impact on the industry of digital money when you develop certain rules of regulation, says Novogratz. One of the main problems the blockchain industry at the moment is the uncertain attitude of the authorities towards cryptocurrency that attracts fraudsters and repels investors.

Earlier, the head of Galaxy Digital said that Bitcoin will not be able to exceed $9,000 to the end of 2018. According to experts, many market participants have to sell their digital assets to cover daily expenses, and it does not give rise to the price of the cryptocurrency.

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

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