Former Fortress hedge fund manager Michael Novogratz recently stated that bitcoin value can multiply more than four times in a few months. Being optimistic about the future of cryptocurrency he added that it would not happen until there was solid regulation in place. He further commented that cryptocurrency market will rebound from its major correction in mid-2018 and surpass previous all-time highs to reach a 30 percent increase in market valuation.
Novogratz had previously stated that bitcoin’s fall throughout 2018 is an indication that foremost companies and exchanges have started taking the cryptocurrency more extreme now. He added that businesses such as Microsoft and Starbucks have let individuals use Bitcoin. He also added that over a period of time, many people would recognize Bitcoin similar to gold and will store it as value. He feels with more implementation and acceptance of bitcoin means businesses will ultimately accept bitcoin that may become a part of everyone’s financial portfolios.
Bitcoin value had increased to USD 20,000 in December 2017, but then again in June 2018 it had fallen to a low of around $5,800 and is currently trading for about $6,400. As per the news published in Moneycontrol, Novogratz predicts that bitcoin will pick up the pace and rise to 30 percent by end of 2018 and in the first quarter of 2019.
According to Novogratz crypto is a millennials’ revolution. Both blockchain and virtual currencies are a great support to any person. The members of the revolution are inspired to decentralize and make a new world order.
Currently, there were numerous projects trying one thing at the same time and there is no favorite project of anyone. All of them are challenging for incomes. One of the projects which are worth looking at was the Telegram ICO. It already had a $2 billion war chest and over 210 million users, as stated in Bitcoin Exchange Guide.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]