Famous Bitcoin Bull With A New Prediction: “Cryptocurrency Is Global, Bitcoin Will Rally In Q1 2019”

The famous Bitcoin bull, a well-known cryptocurrency investor and the CEO of Galaxy Investment Partners, Mike Novogratz, is in the latest Bitcoin news – again because of his optimism and with a new prediction on the price of Bitcoin.

According to Novogratz, there could be a massive price surge in the price of Bitcoin which could happen in the first half of 2019 – but not unless major institutional adoption occurs. Known for his bold statements that were mainly oriented towards Bitcoin and a price target of $25,000 by the end of this year, Novogratz’ optimism seems more toned down now.

Novogratz spoke to Erik Schatzker on the “Bloomberg Markets: The Close” and said that the price of Bitcoin wouldn’t break $10,000 – contrary to his earlier predictions. As he noted:

“One thing you learn in this process is that everything takes a little longer than you hoped it would. I don’t see us breaking $10,000 by the end of the year,”

Aside from Bitcoin, the prominent investor also touched the latest decision by Fidelity Investments to release a custodial solution that would be tailored to institutional investors and particularly the safety of the digital assets that they purchase. In this manner, he said that Fidelity won’t start “seeing institutional flows into purely crypto assets until the Q1 or the early Q2 of 2019.”

When asked about Bitcoin’s long-term (and long-expected) rally, he was confident and again optimistic, stating:

“[Cryptocurrency] is a global revolution. The internet bubble was only a US thing. It was rich US people participating. [Cryptocurrency] is global. There are kids in Bangladesh buying coins. It is monstrous in Tokyo, in South Korea, in China, in India, and in Russia. We’ve got a global market and a global mania. This will feel like a bubble when we’re at $20 trillion.”