Bear Trend to End Soon, Novogratz Believes

Novogratz is quite optimistic about the future and is confident that a digital way of preserving values ​​will inevitably appear
19 December 2018   694

American entrepreneur and head of Galaxy Digital Mike Novogratz believes that the price of Bitcoin has practically coped with the long bearish trend and will soon be in the corridor between $ 3,000 and $ 6,000. He expressed this opinion in an interview with Bloomberg.

We are entering a cool era for macro. Crypto is less exciting now versus macro. Macro got quite boring for many years, and crypto was really exciting.
 

Mike Novogratz

Founder, Galaxy Digital

Acknowledging that the cryptocurrency bubble burst, resulting in a significant correction of many digital assets (in some cases up to 95%), Mike Novogratz however notes that technology continues to evolve, entrepreneurs are still interested in this industry, and this is especially noticeable due to infrastructure point of view.

For this reason, Novogratz is quite optimistic about the future and is confident that a digital way of preserving values ​​will inevitably appear, and most likely, according to him, it will be Bitcoin.

He also expressed confidence in the emergence of Web 3.0, where there will be numerous tokenized objects - from limited partnerships and foundations to works of art.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   101

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.