Mike Novogratz: bitcoin will not rise above $10 000 this year

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The price of bitcoin will rise above $10 000 this year, reiterated its earlier announced forecast, the investor and the founder of the cryptocurrency hedge funds Mike Novogratz (Mike Novogratz).

The founder of Galaxy Investment Partners, known for its optimistic sentiments about the future of bitcoin, in mid-September, said that the cryptocurrency market has reached a local bottom.

Now he believes that increasing growth requires more time and welcome the wave of institutional investors who will be able to raise prices above, will occur only next year.

“I think in the first or second quarter of 2019 companies will begin to enter the market, and then we can expect new highs”, says Novogratz.

According to Novogratz, the launch platform may affect the future of bitcoin, but the product itself needs to be tested before they will be interested investors.

“The platform will likely start in January or in the first quarter – said the investor. – I’ll have to run the water through the pipes, so I think that the receipt of institutional money in cryptocurrency assets can be expected in the late first or early second quarter.”

Other members of the cryptocurrency industry take a more bold predictions of bitcoin prices to the end of this year.

So co-founder and strategist at Fundstrat Tom Lee (Tom Lee) said that the price this year will reach $25 000. The results of the study Fundstrat also showed that 82% of investors believe the passage of the low price of bitcoin.

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