In line with a recent ‘interview‘ with ‘Bloomberg’, Mike Novogratz – The ex-Goldman Sachs partner and founding father of crypto merchant bank namely Galaxy Digital, said that he doesn’t expect the price of Bitcoin [BTC] to further more decline.
Speaking with Bloomberg, Novogratz opined that there’ll not be any additional decline within the price of Bitcoin [BTC], despite the recent slump within the market. Novogratz projected that the Bitcoin price is expected to stabilise between $3,000 USD and $6,000 USD within the upcoming days.
Novogratz added, that the macro trading environment has become a lot more interesting than the digital assets market. Adding further, he said:
“We are getting into a cool era for macro. Crypto is less exciting now vs macro. Macro got quite boring for several years, while crypto was really exciting.”
The capitalist additionally expressed that he’s “fairly certain” that Bitcoin [BTC] will be a digital store of ‘wealth‘, along side the decentralized worldwide computing web 3.0. In Novogratz’s view, there’ll be “a heap of tokenized objects,” like restricted partnerships, funds, art and “all types of things” within the near future.
Earlier in Dec, Novogratz compared cryptocurrency market performance to a “methadone clinic.” He characterised Bitcoin’s meteoric growth in late 2017 –– that peaked at $20,000 USD per coin –– “a drug.” He called the amount a “speculative mania,” adding that the “audience is a lot more sober now — the drug is gone.” At the time, the hedge fund manager stated that the market was characterised by “pessimism” and “fear,” with individuals expecting the leading cryptocurrency traveling “to zero.”
Even earlier in November, Novogratz stated that he expects cryptocurrency to “flip next year” since once price begin moving again.” Novogratz expected that monetary establishments can transition from “investing in cryptocurrency funds to investment in cryptocurrencies proper within the Q1 of next year.”