It would be an understatement to say that is has been a rollercoaster year for cryptocurrency investors. The markets have experienced prolonged periods in the red, with most signs of green lasting little more than a day or two. However, the week to date has been cause for optimism, with the upward trend appearing to hold. There is a renewed sense of confidence and trust in the cryptocurrency space, and some evangelists are feeling particularly bullish – like former Wall Street banker and founder and CEO of Galaxy Digital Capital Management, Mike Novogratz, who has made some bold price predictions for Bitcoin.
The man known as the Bitcoin bull is reported to have said that he believes Bitcoin’s 10-month downtrend is finally coming to an end, and predicts that Bitcoin may return to its all-time high by Q2 2019. In the interim, he is confident that if Bitcoin can overcome the current resistance – and the evidence indicates this is beginning to happen – then it could end the year at $8,800-$9,000.
Novogratz believes that such a rise in Bitcoin will be driven by greater participation from institutional investors, who despite the negative outlook of many legislators, do not want to miss out on this important and emerging new area.
He’s got it right in the past, so is his latest prediction on the ball? Only time will tell – but we’ll keep our fingers crossed here at Inside Crypto Today.