The head of Galaxy Digital, Mike Novograz, is confident that in 2019 the price of Bitcoin will soar to $ 20,000, as institutional investors have become interested in cryptocurrency.
“Bitcoin has to overcome $ 6,800, and after that, by the end of the year, the price could reach $ 8,800- $ 9000. By the end of the first quarter, the price will rise to $ 10,000, and then new peaks are waiting for us – $ 20,000 or more, ” Novograts shared his assumptions with the publication Financial News .
Novograz believes that the launch of the Fidelity Digital Assets and Bakkt platforms will attract new investors to the industry.
Mike, being a successful cryptoinvestor, has already made statements about the price increase earlier. In November last year, when Bitcoin literally took off, he said that by the end of 2018 one should not be surprised at the price of $ 40,000 for Bitcoin.
According to the billionaire, the main factor for future growth will be the development of the regulatory framework for the industry. This, in turn, will eliminate regulatory uncertainty, contribute to attracting large investors and scare off fraudsters.
Thus, the largest investment company BlackRock refused to offer ETF to its customers before creating the appropriate legal framework, as head of the company Larry Flink said in early November.
It should be noted that not everyone shares the point of view of Novograc. The head of the BitMEX platform, Arthur Hayes, believes that the market may fall for another year and a half.
Subscribe to BlockchainJournal news on Facebook !
BlockchainJournal.news
