Galaxy-digital-ceo-mike-novogratz-calls-crypto-price-bottom


#1

Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital Capital Management, said that cryptocurrency prices have hit a bottom in a tweet today, September 13.

Novogratz also pointed out that the Bloomberg Galaxy Crypto Index (BGCI), which is designed to measure the performance of the largest cryptocurrencies traded in U.S. dollars, “retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble.”

Speaking at the Beyond Blocks conference in South Korea in July, Novogratz predicted that many institutions will enter the crypto industry “in the next two to three years.” However, he noted that the mass adoption of crypto and blockchain technology will come no earlier than in the next five years, naming the increasing “cost of technical talent” as one of the main reasons.

Later that month, Galaxy Digital published its first quarter report for 2018, which shows $134 million losses with $85.5 million as an unrealized loss on digital assets. As of March 31, Galaxy Digital had $281.7 million in assets, of which $225.8 million were digital assets and investments.

Meanwhile, the market has rebounded, with total market cap having surged by more than $13 billion today. The top 20 cryptocurrencies by market cap are in the green, according to CoinMarketCap, while several of them are seeing double digit gains. Ethereum (ETH) has gained over 15 percent on the day and is currently trading at $211. At press time Bitcoin (BTC) is trading at around $6,490, up 2.26 percent over the last 24 hours.

Source:https://cointelegraph.com/news/galaxy-digital-ceo-mike-novogratz-calls-crypto-price-bottom


#2

Ouch. I was thinking that market would go a little more down and then I’ll buy some more. If the prediction is right, then I have missed the window.

But I remember the golden rule no 1 here: never FOMO.


#3

Yeah. FOMO is like a bull trap that everyone should avoid. If you missed out already, do not chase the train. However, it may never come back though. It all depends on how you manage the risks. If you take the risk, then you can ride along at high prices but do not regret if something along the road happened which may lead to unrealized losses.We shall be skeptic and kept informed on what is happening around us, especially the projects where we are involved and invested in. If we are equipped enough, then we will never get left behind, chasing the train that left us. And as a reminder, no one really can say what will actually happen, they can predict and all, and it is upon us if we will believe them. They maybe wrong or right. We never know. Whatever their basis are, still not 100% sure.


#4

Right. The train has departed and may not come back but it doesn’t mean that we won’t get another chance of making money. Just remember that ups and downs are part of the market, so dip will come sooner or later and then it will go up again too. Catch those windows to make money.