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Novogratz: “crypto-Winter will still last for a couple of months” – Coin Hero

Novogratz: “crypto-Winter will still last for a couple of months”

Home News Novogratz: “crypto-Winter is still a couple of months”

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Marcus Misiak –
02.02.2019

Mike Novogratz, a well-known “Bitcoin bull” and former wall street Investor, wrote on 1. February in a Tweet that he expected that the crypto-Winter will still last at least a couple of months. In the long term, he believes that the crypto industry will have success.

Novogratz was once a Partner at Goldman Sachs, but decided a few years ago to focus entirely on Bitcoin. He saw a huge potential in the market, as he saw it with the rise of the Internet. In 2017, he tweeted a lot during the enormous hype, to be fired so that currencies of the vertebrae to Crypto. In the last six months, the Tweets from the Novogratz to Bitcoin were becoming less and less, since the Hype died down. But on 1. February, he put the following Tweet:

I realize that I haven’t tweeted for a long time crypto. It is difficult. I think it will take at least a couple of months, until we see again an increase. The institutions are always slower to respond to. But I am confident that you will do it. There are many activities behind the Scenes. You Keep Your Course.

As always, Novogratz is optimistic and expects that institutions will invest in Bitcoin, but very slowly. According to many experts, this will be the Moment, to grow in the crypto-market will begin. The reason for this is that many institutional investors have not yet entered the market is that in the crypto-market with virtually no services on the institutional level are offered.

This will however change in the future, almost certainly. With the new application for the VanEck Bitcoin ETF and the upcoming market launches of Bakkt and the crypto-Custody services of Fidelity is the first large institutional infrastructure to be created, which will allow the entry of large investors in the market.

Therefore, there seems to be little surprise that the Novogratz are optimistic about the future of the crypto industry. And in view of the forthcoming introduction of new services and products seem to be his expectations are not out of the clear blue sky.

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