The founder of the crypto-investment company Galaxy Digital Capital Management, Mike Novogratz noted that the cost of cryptocurrency has reached extremely low rates. The statement was published on Twitter on September 13.
This is the BGCI chart…I think we put in a low yesterday. retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble… markets like to retrace to the breakout..we retraced the whole of the bubble. #callingabottom pic.twitter.com/EasTBYgjSj
— Michael Novogratz (@novogratz) 13 сентября 2018 г.
Also, Novogratz said that the Bloomberg Galaxy Crypto Index (BGCI), created to track the changes in the value of the largest cryptocurrencies, repeats the figures of the previous year, which led to a surge and the emergence of a bubble.
During the Beyond Blocks conference held in South Korea, Novogratz noted that many institutional investors will enter the cryptocurrency market in the next few years. Despite this, he is confident that the mass use and distribution of cryptocurrency technologies and Blockchain will begin not earlier than in 5 years, due to the need for effective training of talented professionals.
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