During live podcast on CNBC, hedge fund giant and CEO of Galaxy Investment Partners Michael Novogratz confirmed that he bets on a crypto comeback and that bottom might be ending.
Michael stated that most of that selling is finished and the previous week some positive indicators were already visible, but the most important thing is that institutions are slowly getting ready to be in a space.
Institutional FOMO awaits
According to Novogratz in 3 to 6 months from now, it will be the all clear sign for big institutions and pensions to start investing in cryptocurrency. Michael is confident that institutional FOMO awaits and it will start with Bitcoin because it is a safe store brand and people know the name.
Digital gold, like Bitcoin, is gonna be an easier thing to “swallow” for people compared to a real gold.
Bitcoin price 2018 Q4
Regarding Bitcoin price prediction hedge fund giant stated,
“I do think Bitcoin is gonna be in a significantly higher level by the end of the year.”
8800$ is the key level Michael mentioned and he said he will be very disappointed if this level will not be reached.