The crypto-markets have looked grim throughout 2018, with investors seeing most of their crypto portfolio stuck in the red. Things are set to change soon though according to ex-Goldman Sachs partner and Galaxy digital founder, Mike Novogratz. Mike is off the opinion that the markets, which have taken a beating all year, will bounce back in 2019.
Mike was speaking in an interview with the financial times (FT) Mike expressed frustration with the state of crypto markets this year. Mike, who founded Galaxy digital, a company he believes will become the “Goldman Sachs of crypto” admitted that it was getting increasingly difficult to build a business in the current bear market.
Mike according to the FT post, is of the opinion that companies will get into proper crypto investing in the first quarter of 2019. He added that he expected prices to rebound next year as well. The post also quoted Tim Swanson, the founder of Fintech advisory firm Post Oak labs, saying that Mike “was trying to predict something that he has no influence over” whenever he says “something is going to happen with price.”
The predictions on future market moves were not in short supply as the Chief Commercial Officer (COO) of Bit pay, Sonny Singh, also weighed in, saying that Bitcoin will rise to at least 15,000 by the end of next year. Bitcoin is currently scouring the bottom of the charts having recently dropped to an 11 percent low.