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Famous cryptocurrency investor Michael Novogratz anticipates that a major Bitcoin price increase is coming in 2019. Here’s what the cryptocurrency billionaire says you should expect in the upcoming months.
In late 2018, Bitcoin price peaked close to $20,000, and some investors are expectant that the world’s most dominant cryptocurrency will do the same in late 2019.
But Michael Novogratz is not one of them. Novogratz just told Bloomberg television:
One thing you learn in this process is that everything takes a little longer than you hoped it would […]. I don’t don’t see us breaking $10,000 by the end of the year.
Why shouldn’t cryptocurrency investors expect a Bitcoin price somewhere around $20,000 in 2017? According to Michael Novogratz, the market won’t reach these heights until institutional investors up their investments in Bitcoin. In other words, Bitcoin whales can provide growth and security in the marketplace.
However, this billionaire cryptocurrency investor’s opinion that we won’t see a Bitcoin price surge until 2019 should not be taken as skepticism. In fact, Novogratz announced that Galaxy Digital, his cryptocurrency investment firm, will be one of Fidelity Digital Assets‘ first clients. This is Fidelity Investment’s new and separate cryptocurrency investment company.
Despite impending SEC regulations and Bitcoin price fluctuations, leading cryptocurrency investor Michael Novogratz just predicted a Bitcoin price surge in 2019.
Why shouldn’t you expect this to happen in late 2018, as it did in 2017? According to Novogratz, growth is always slower than expected. And in Bitcoin’s case, we may not see a price increase above $10,000 until institutional investors become more involved.
With Novogratz’s partnership with Fidelity and other corporate forays into cryptocurrency, this could happen sooner rather than later.
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