The answer to this question knows billionaire investor Michael Novogratz. The exact date until he dares to call, the forecast makes for the long term. However, he knows some factors that will help to rise the crypto market.
Novogratz believes that cryptocurrency market recover from the primary correction in mid-2018. It will surpass the previous ceiling to reach the level of 20 trillion dollars.
"Cryptocurrencies are a global revolution. The Internet bubble was an internal thing of the USA, it was rich Americans.
And cryptocurrencies are global. In Bangladesh, children buy coins. The crypto market is huge in Tokyo, South Korea, China, India and Russia. We have a global market and global mania. It will look like a bubble, when will cost 20 trillion dollars," said Michael Novogratz.
However, he argues that such growth is possible only with the arrival of institutional investors on the market, and this is at least a medium — term prospect-so far they have only indicated interest. Peak value of last December was provided to retail investors and traders is a single parent, said Novogratz.
"It will not reach 20 trillion dollars at once. Do you know how this will happen? One of these fearless pension funds will say: we have custodial services, we are supported by Goldman Sachs, according to the Bloomberg index, we can track performance. And they will buy cryptocurrencies. And then buy the second Fund is going to work the same syndrome loss of profits that you have seen from retail investors," concluded Michael Novogratz.
Hopefully this doesn’t happen for a long time so we can all buy a lot more!
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