RATE Group | Bitcoin Price Rally Inbound in Q1 2019
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Bitcoin Price Rally Inbound in Q1 2019

29 Sep Bitcoin Price Rally Inbound in Q1 2019

Posted at 22:20h in Bitcoin News by

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mike novogratz

Perennial bitcoin bull Mike Novogratz, founder and CEO of Galaxy Digital, claims bitcoin is positioned for major growth now that institutions are investing in it and big compananies are starting to accept it. Novogratz told CNNMoney’s “Markets Now” that big companies like Microsoft and Starbucks are allowing customers to use bitcoin and that, in the short term, more institutions will invest for fear of missing out (FOMO).

Novogratz, a former principal at Fortress Investment Group, last week said bitcoin would post a 30 percent increase by the end of the year once its surpasses major resistance levels at $6,800, $8,800, and $10,000, at which point institutions will enter the market through trusted custodian solutions. The price stood at $6,581 at the time of this report, according to CCN.

Institutions Step Forward

Citigroup and Morgan Stanley announced plans in the last month to add cryptocurrency custodian solutions. Coinbase and Bitgo, meanwhile, have regulated…

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