One of the disadvantages, or advantages depending on who you ask, is the mobility of the bitcoin rate. Bitcoin moved down hard yesterday and approached 6,600 euros (7,300 dollars). Billionaire Michael Novogratz discussed the future trends of bitcoin and shared his expectations about the bitcoin market.
$ 10,000 requires a lot of energy
Novogratz thinks that if bitcoin drops even further, the next support for the exchange rate is 6,500 dollars, that is 5,850 euros. He also expects that the price can only rise again when a lot of new energy comes on the market. This is necessary to take the step to return to a range between 8,000 and 10,000 dollars.
Yet he is enthusiastic about the fundamental state of the market. There are many positive developments.
“Bakkt has just finished. They have a custody solution that comes online, making more people feel comfortable owning bitcoin. “
Old money is fixed in securities accounts
He also stated that he is setting up a bitcoin fund for custody and pricing, while enabling investors to invest in Bitcoin. “This makes a difference because users do not have to set up and manage a Coinbase account. Nor do they have to worry about their phone being lost. “
Novogratz says that this is necessary because most American money is still in the hands of older generations. They have their money in different securities accounts.
“The most bullish thing (for Bitcoin) that could happen is if Abby Johnson (CEO of Fidelity) would say that all 26 million users of their platform can now buy bitcoin through fidelity. That has not yet happened. “
Novogratz’s opinion is interesting but no more than that. If you want a really well-founded course analysis, at five o’clock this afternoon, Axel has another one ready for you. Keep an eye on our site!
Related posts:
Why do cryptocurrency Exist – Institutions 
Bitcoin and independent property rights 
NASDAQ on market manipulation: Everyone is now talking about regulating bitcoin and cryptocurrency 
Pilot Porsche on Ethereum blockchain to trace provenance materials 
Xfers from Singapore is going to use blockchain Zilliqa 
Make your own tokens with the Guarda wallet
