Mike Novogratz stays Bitcoin Bullish

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Mike Novogratz is a bitcoin bull and a billionaire investor. As support for bitcoin grew over the weekend, Novogratz made a statement saying “every major macro fund should hold at least 1 percent of their portfolios in Bitcoin.”

In general, market analysts are saying that bitcoin and the rest of the cryptocurrency market will begin recovering in the second half of 2019, and it has been pointed out that bitcoin has a tendency to rebound a year prior to its block reward halving. A ‘halving’ takes place every two years and is designed to reduce the amount of bitcoin that miners can generate. The next bitcoin halving is estimated to occur in May 2020, which is why analysts predict that the dominant cryptocurrency will start showing stronger recovery by May of this year.

Willy Woo, a digital asset researcher, has also published stats that demonstrate a high probability of bitcoin “initiating a proper rally beginning by the end of the second quarter of 2019,” CCN reports.

Mike Novogratz has always stressed his belief in the cryptocurrency market and has said before that when a wave of institutional investors will come into the market and once they do, cryptocurrencies as an asset class are likely to experience an unprecedented rally. He said:
“ It won’t go there ($20 trillion) right away. What is going to happen is, one of these intrepid pension funds, somebody who is a market leader, is going to say, you know what? We’ve got custody, Goldman Sachs is involved, Bloomberg has an index I can track my performance against, and they’re going to buy. And all of the sudden, the second guy buys. The same FOMO that you saw in retail will be demonstrated by institutional investors.”

Another catalyst that may strengthen the market is the launch of Bakkt, Fidelity custody, plus as CCN points out, the decline in the circulating supply of Bitcoin and an increase in adoption by both retail and institutional investors are acknowledged as potential driving factors of the asset class in the long term.

is a bitcoin bull and a billionaire investor. As support for bitcoin grew over the weekend, Novogratz made a statement saying “every major macro fund should hold at least 1 percent of their portfolios in Bitcoin.”

In general, market analysts are saying that bitcoin and the rest of the cryptocurrency market will begin recovering in the second half of 2019, and it has been pointed out that bitcoin has a tendency to rebound a year prior to its block reward halving. A ‘halving’ takes place every two years and is designed to reduce the amount of bitcoin that miners can generate. The next bitcoin halving is estimated to occur in May 2020, which is why analysts predict that the dominant cryptocurrency will start showing stronger recovery by May of this year.

Willy Woo, a digital asset researcher, has also published stats that demonstrate a high probability of bitcoin “initiating a proper rally beginning by the end of the second quarter of 2019,” CCN reports.

Mike Novogratz has always stressed his belief in the cryptocurrency market and has said before that when a wave of institutional investors will come into the market and once they do, cryptocurrencies as an asset class are likely to experience an unprecedented rally. He said:

“ It won’t go there ($20 trillion) right away. What is going to happen is, one of these intrepid pension funds, somebody who is a market leader, is going to say, you know what? We’ve got custody, Goldman Sachs is involved, Bloomberg has an index I can track my performance against, and they’re going to buy. And all of the sudden, the second guy buys. The same FOMO that you saw in retail will be demonstrated by institutional investors.”

Another catalyst that may strengthen the market is the launch of Bakkt, Fidelity custody, plus as CCN points out, the decline in the circulating supply of Bitcoin and an increase in adoption by both retail and institutional investors are acknowledged as potential driving factors of the asset class in the long term.

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