Bitcoin, Crypto currency, Blockchain

Unknown Investor could trigger institutional FOMO and Bitcoin Bull Run

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Unknown Investor could trigger institutional FOMO and Bitcoin Bull Run – Mike Novogratz

Home News Unknown Investor could be an institutional FOMO and Bitcoin Bull Run, trigger – Mike Novogratz

Marcus Misiak –

Mike Novogratz, the CEO of Galaxy Digital said during an interview with CNBC Fast Money, that is the influence of rich invested institutional Investor in a Bitcoin Hedge Fund. This to the Public is unknown, and the Investor is left of its trigger, in my opinion, an institutional FOMO, which is to beat last year’s Retail FOMO. Up to the end of the year, but first of all, a Bitcoin exchange rate of 8,800 to 10,000 USD to be realistic.

Novogratz has not revealed, who is the institutional Investor, but explained that it is one of the “most influential foundations” at all. The Institution itself had not made the Investment in the Bitcoin Hedge Fund, officially, why he could not tell me more about it. In his view, this message will be but the initial spark for an institutional FOMO (“Fear of missing out”), which will surpass last year’s Retail FOMO, which was mainly initiated by private investors.

While it was in the last year on the way to the $ 20,000 mark for Bitcoin is a “speculative mania” on the part of private investors, Novogratz, will get in next year, institutions in the market, if they have the fear to miss the next Bitcoin Bull Run. When Novogratz was right, then it will start in the next three to six months large institutions to invest in crypto-currencies. He said (freely translated):

I think that it will happen, as we speak with many of them and at this point you know that the sky is the limit.

He also said that, in his opinion, all the institutional investors would first start with an Investment in Bitcoin, because BTC has the greatest recognition, and on the other hand, as a store of Value functions has proven to be, can’t offer Gold. Therefore, he believes that Bitcoin will outperform the Altcoins for a while.

He also explained that there was in the last few months, not the one with the Bull Run in terms of price developments, in the Background, but a Bull Run according to talent and in terms of institutions, the development of the infrastructure, so that institutional investors can result in the crypto-Space, has taken place. According to his words, the institutional capital is the latest in the 1. or 2. Quarter of 2019, the flow in the crypto-Space:

We slowly start to see institutions that invest the ready. First of all, this was in a Venture to observe the capital area. […] I think we had a disastrous bear market in crypto-currency prices. But in business sphere it was the other way. It’s a bull market for talent, and it was also in need of a bull market with regard to companies that build the infrastructure, the institutional investors, to invest in the crypto Space … I think that it will be available in three to six months, a Entwarnungs-character – for – people-big institutions-to invest.

Novogratz also highlighted that there are to be overcome before some of the chart of key technical Resistances, like 6.800 USD 8.800 USD and 10,000 USD, before Bitcoin break out of the current bear market and the old all-time may high of 20,000 USD. As soon as Bitcoin reaches the above-mentioned price levels, which are both technically as well as physiologically important, Novogratz, “the sky’s the limit”.

The entire Interview with CNBC’s Fast Money with the Bitcoin bulls Mike Novogratz is there to see below.

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