According to an article published by the Cointelegraph news agency, crypto-currency investor Mike Novogratz adjusted his Bitcoin price forecast that it would not break the $ 10,000 mark yet in 2018.
The creator of Galaxy Investment Partners, who is known for his optimism about the future of Bitcoin, EOS and Icon, had previously called the “market cap” in mid-September. He now thinks that more time is needed for the momentum to be built to raise prices, and the long-awaited wave of institutional investors that accumulates in the crypto-currency ecosystem will only happen next year.
“… I THINK THAT IN THE FIRST OR SECOND QUARTER OF 2019 IF THE INSTITUTIONS BEGIN TO ENTER, WE WILL ACHIEVE NEW MAXIMUMS,” HE SAID.
Novogratz said that Fidelity Investments announced the launch of a tailor-made custody solution for institutional investors seeking security while interacting with crypto assets. While this was beneficial to Bitcoin, Novogratz pointed out that the solution needed to be tested before reaching mass interest based on investor confidence.
“THEY WILL PROBABLY BE FUNCTIONING IN JANUARY OR IN THE FIRST QUARTER,” CONTINUES HIM. “
And then you have to get some water through the pipes, my guess is that you begin to see institutional flows enter purely into crypto-coins at the end of the first quarter or the second quarter.”…
Here is a video of Novogratz talking about EOS earlier on this year: