Since the sudden upliftment in the price, Bitcoin has become the buzzword in the market once again. Majority of the population is now actually being able to note the true potential of Bitcoin.
Founder as well as CEO of Galaxy Digital which is a cryptocurrency merchant bank, Michael Novogratz recently stated that his expectations with Bitcoin now is to consolidate in the $7,000-$10,000 range.
During a conference call while discussing his company’s quarterly earnings, Michael also said:
“If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through.“
As far as Bloomberg’s reports are concerned, it clearly states that according to Novogratz the reason for the mainstream acceptance of cryptocurrencies is perhaps because of this year’s rally. Moreover, the majority of the credit to the industry was also gathered from those rumors of Facebook’s crypto project as well as from Microsoft’s use of Bitcoin’s blockchain for identity management. These two factors have also contributed to the mainstream acceptance says Novogratz.
Well taking into consideration some other views in the crypto market, we found the opinion of the former Fortress Group hedge-fund manager and Goldman Sachs Group Inc. partner who believes that there has undoubtedly been a substantial shift in the way how cryptocurrencies are perceived.
He also said:
“We have gone from, you know, crypto as an experiment, is it real? Is it tulips? To crypto is going to be a substantial part of the financial and consumer infrastructure of the world“