Bitcoin Bull Mike Novogratz Still Confident About Institutional Entry On The Crypto Market

The CEO of Galaxy Digital Mike Novogratz that we are often talking about in our crypto news, admits that this is the longest crypto winter he has witnessed but still believes that the institutional investors will soon enter the market.

He tweeted:

 “Don’t think we head north for at least a few more months. Always take longer for institutions to move. Very confident they will. Tons of activity under the hood. Stay the course.”

He was one of the people who claimed that bitcoin could reach $10,000 by the end of the first quarter in 2019 but as the slump continues there is no sign quick recovery so he apparently changed his outlook.

Dan Morehead on the other hand, the CEO of Pantera Capital, says that those who have a short-term mindset should stop freaking out because the industry has gone through a bear market before with the only difference- know we know that blockchain works.

However, some people believe that bitcoin bulls such as Novogratz and Dan Morehead are unrealistic. But, they have invested a lot of money in the industry so they are motivated by the industry to thrive.

Meanwhile, the skeptics are saying that the crypto market will die out and most of the people who claim this come from traditional financing institutions and banks who are direct opponents to the crypto industry.

The futures trader Antony Grisanti believes that the price of Bitcoin could sink below $3,000 due to massive sell-off. He has previously said that the bitcoin price increases slightly because people are liquidating their positions.  His fellow commentator on CNBC Scott Nations, also noted that Bitcoin has no real value.

Of course, the crypto community tells us a different story.