Galaxy Digital CEO and infamous Bitcoin supporter Michael Novogratz says cryptocurrency markets have hit "Seller fatigue," repeating his belief that prices have bottomed, various media outlets report Friday, September 21.
As part of his comments at Yahoo Finance's second annual "All Markets Summit," Novogratz, who last week "Called a bottom" for crypto on social media, said Bitcoin's price drops throughout this year had demonstrated its new stability.
"I think institutions are moving towards investing. It's shocking how much has happened."
Both Bitcoin and major altcoins were seeing a renaissance Friday after a week of flat performance, with BTC/USD climbing to highs above $6700 at press time.
Ethereum delivered gains of almost 11 percent in 24 hours, hitting $230 for the first time since September 6.
Continuing, Novogratz additionally likened the current climate in cannabis stocks to how Bitcoin and Ethereum were in 2017.
"The prices of cannabis stocks today feel like bitcoin and ethereum did in December of last year," CNBC quotes him as saying, forecasting the market to grow "Relatively rapidly."
Thursday, September 20, saw U.S. regulators again postpone a decision on a Bitcoin exchange-traded fund application by VanEck and SolidX, with prices starting to rise soon after the news became public.
Bitcoin 'Seller Fatigue' Means Market Has Bottomed, Michael Novogratz Tells Yahoo
Publié le Sep 21, 2018
by Cointele | Publié le Coinage
Coinage
Mentionné dans cet article
Nouvelles récentes
Voir tout
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.