Institutions Will Get Into Bitcoin in Q1-Q2 2019 Bringing ‘New Highs’

Investor and cryptocurrency bull Mike Novogratz has fine-tuned his Bitcoin price outlook, repeating to Bloomberg Monday, October 15, that it would not break $10,000 in 2018.

The Galaxy Investment Partners creator, who is known for his optimism about Bitcoin’s future, had previously called a “bottom” in the market in mid-September.

Now, he thinks more time is required for momentum to build to take prices higher, and the long-anticipated wave of institutional investors piling into the cryptocurrency space will only occur next year.

“…I think Q1 [or] Q2 [2019] if the institutions start coming in, we’ll put in new highs,” he told the network.

Novogratz was speaking the day Fidelity Investments announced it would release a custody solution tailored to such institutional investors looking for security when interacting with cryptoassets.

While this was a boon for Bitcoin, Novogratz said, the solution needed testing prior to it attaining mass interest based on investor…