Galaxy Digital CEO Mike Novogratz expressed confidence that Bitcoin will rise in price to $20,000 in 2019, as institutional investors such as Bakkt, Fidelity Digital Asset Services, had become interested in cryptocurrencies.
“By the end of the first quarter we will take out $10,000 and after that, we will be back to new highs — to $20,000 or more,” he explained in a recent chat with Financial News.
He is also confident that new large investors will come to the industry thanks to the launch of Fidelity Digital Assets and Bakkt platforms.
According to Novograz, another positive factor for enhancing a status of the cryptocurrency is the widespread development and introduction of cryptocurrency legislation. It is assumed that legal regulation will clear the industry of fraudsters and give confidence to investors.
Mike Novogratz is considered to be a successful crypto investor, who is holding this line. However, sometimes he refuses his previous statements. As a reminder, in November last year, he predicted Bitcoin price increase to $40,000 by the end of 2018, but this year, he admitted that this break is still not for Bitcoin.