Billionaire Novogratz: Impossible For Bitcoin Not to Hit $10,000 by This Year
Novogratz, who is Galaxy Digital’s CEO, opened up his segment by calling back to his forecastthat cryptocurrency prices have finally bottomed.
He elaborated, stating: It’s also a bull market in institutions building the infrastructure needed for real money investors to start investing in this space… I think that in three to six months from now, there will be an ‘all clear’ sign for people — big institutions and pension [funds] — to start investing.
Keeping this in mind, the CEO explained that institutions may begin to “FOMO” into this market by year’s end, which may spark another round of exponential, ground-breaking growth that crypto assets have become known for.
Although the fundamentals of this budding industry are as strong as ever, Novogratz added that traders will still need to keep an eye on the $6,800, $8,800 and $10,000 price levels, as a powerful move above these lines of resistance, coupled with institutional involvement, will make Bitcoin’s next bull run a reality.
And it seems that the cards are already starting to fall into place, as the former Fortress Investment executive claimed that Bitcoin will almost undoubtedly reach $8,800 or $10,000 come January 1st, 2019.
MARKET VOLUME IS ON 222 BILLION 575 MILLION DOLLARS
Bitcoin, which is the determinant of the crypto-currency market due to the developments, declined by 0.75 percent to $ 6,669 in the last 24 hours. Despite the downward trend in the market, Bitcoin maintained its level above $ 6,500, representing a market volume of 115 billion 281 million dollars, accounting for 51.8 percent of the market.
A total of 14,154 units constituted 1,988 crypto currency units traded on the market.
Due to the general downward trend in the market, the market volume declined to 222 billion 575 million dollars and the 24-hour trading volume in the market was calculated as 13 billion 511 million dollars.
Changes to the highest volume 10 crypto currencies (sequence numbers, position of units in the rankings): 1. #Bitcoin 0.75 percent
2. #Ethereum 1.46 percent
3. #Ripple 3.3 percent
4. #Bitcoin Cash 2.37 percent
5. #EOS 2.24 percent
6. #Stellar 1.67 percent
7. #Litecoin 4.40 percent
3. #Cardano 3.26 percent
10. #Monero 4.92 percent fall
8. #Tether increased by 0.69 percent.
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