Mike Novogratz: the cryptocurrency market will peak in 2019

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The founder of Galaxy Digital Capital Management believes that institutional investors will come on the blockchain-industry in the first half of next year

Bitcoin will not rise above $10 000 by the end of this year, but the cost could set new highs in the first half of next, says the founder of Galaxy Digital Capital Management Mike Novogratz. In a conversation with Bloomberg, he said that will affect the growth of the value of digital assets.

“Institutional investors will begin to enter the cryptocurrency market in the first or in the second quarter of 2019, then we can expect new highs,” said Novogratz.

Billionaire commented on the news about the launch of cryptocurrency platform from Fidelity Investments for the major players. The expert is confident that this important event, which will positively affect the industry in the future, but right now she needs testing.

Novogratz suggested that the platform will launch in the first quarter of 2019, after which it would need to be tested. Therefore, the investor is advised to expect a sharp growth in the value of digital money in the late first or early second quarter of next year.

Earlier, the expert said that the cryptocurrency market has hit bottom. According to the billionaire, the cost of bitcoin will not fall below $6,000 in the next 12 months.

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

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