The cryptocurrency market will ‘flip next year’ according to ex-Goldman Sachs partner
- Ex-Goldman Sachs partner and founder of Galaxy Digital expects prices to start moving next year and will “flip next year”.
- The back-end of Sunday saw a bounce across the crypto market prices, with BTC/USD jumping back above $4000.
Mike Novogratz, who is an ex-Goldman Sachs partner and is the founder of Galaxy Digital, he believes that he projects that the cryptocurrency market will “flip next year”, after speaking to Financial Times in an interview.
He further went on to say that “this year has been challenging” for his business, Galaxy Digital. He believes that eventually he has hope that it will become “the Goldman Sachs of crypto”. Stating that currently “it sucks to build a business in a bear market.”
Novogratz predicted within his interview with the FT, that financial institutions will see a transition from “investing in cryptocurrency funds to investing in cryptocurrencies proper in the first quarter of next year.”. He believes prices will start to move again next year.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
