The current Crash of Bitcoin and other Altcoins has hit investors hard and came after a long period of relative stability, the investor was not prepared. Mike Novogratz, a billionaire Investor, and one of the biggest Influencers in the crypto-Space, also suffered from the Crash of the markets that may have been triggered by a large sell-off in the stock market. The crypto-investment company Galaxy Digital by Novogratz, has lost in the year 2018 for $ 100 million, as the bear market stretched up in the last months of the year.
To better times
Novogratz was one of the highest-ranking Wall Street personalities, the crypto-delusional entrances, which caused the price of Bitcoin in mid-December to a High of 19.511 $ to rise, only to fall, after 11 months, to around 4,000$. In spite of recent developments in the market, he remains optimistic, he accepted the Situation on the market and not trying to talk the Situation nicely. In a telephone conference on 30. November, he talked about the market crash: “It was a terrible bear market for tokens. There are many reasons to be depressed.“
However, Novogratz also remains in the volatile market situation with determination and has issued currencies will be long-term commitment to the growth of the Blockchain technology, as well as the tokenized Crypto. Although many of the references again on “upcoming adaptation“ and “institutional investments“, uses Novogratz his Position as a former Fortress Group hedge Fund Manager and Goldman Sachs Partner to the industry for the future of the market prepare.
He said: “I think basically that we are in 2019, 2020, will experience a great adaptation. A lot of things in the digital world, the E-Gaming area are of low quality, so I think that people will find it more convenient to use the Blockchain. We invest a lot in this area.“
Novogratzs comments on the Integration of Blockchain and Cryptocurrency in the Gaming industry just a few days after the announcement of TRX, come to the introduction of TRON Arcade. The Tron Foundation is pursuing a new goal, to promote the development and Innovation in the Gaming area and to integrate Blockchain and crypto in the TRON network. The Foundation, which has a Fund of $ 100 million, is not far from the Vision of Novogratz.
A difficult Situation:
While the loss of 136 million dollars from Galaxy to Digital in the first nine months of the year, no small sum, the company is still in the top position, should the market turn to surprise the industry. According to the Galaxy Digital the most recent Crash was a result of lost bets on Bitcoin, Ether, and XRP, as well as regulatory developments. Although Bitcoin and other major Cryptocurrencies 2018 have massively suffered, the adaptation and Integration of the technology in existing areas, improved massively.
It is reassuring to hear opinions as to which currencies, and an optimistic Outlook on the future of the Crypto in the middle of the, frankly, terrible time, the investors and the industry in General. Long-standing veterans of the crypto industry to provoke, however, a further cycle of Boom and Bust Pricing, which could slow down the overall growth achieved by the industry in the last few months.
Novogratz denounced the United States Securities and Exchange Commission (SEC) because of their decision to forego currently the authorisation of a Bitcoin ETFs, since they brought uncertainty into the market, which led to the recent sell-off. But he also says that the SEC, in his opinion, is strong action against some fraudulent ICOs. And not only that they were hard to them, the SEC also stated that abgezockte private investors can provide, in most cases, the claims. This made some nervous.
He explained that a better relationship between crypto-projects and the SEC could act as a catalyst, the industry needs as an engine for new growth, and the regulatory way for larger investors and businesses leveled, wishing to enter the industry:
“Since the regulations of the SEC and other regulatory authorities are defined throughout the world clearer, it is easier for entrepreneurs a crypto-based Startup, and for investors it is easier to invest without concerns.”, he said. “We turn to the regulatory authorities, who want to help improve the regulations.“
Disclaimer: Because of the buying and trading crypto-currencies with a significant risk of loss goes hand in hand, we speak of crypto Ticker not a recommendation to buy from. Please inform yourself thoroughly, comprehensively and, above all, independently from various sources that you trust before the acquisition of a crypto-currency.
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