Mike Novogratz: Seller Fatigue Shows Crypto Market Bottom
September 24, 2018
Galaxy Digital director Michael Novogratz has stated, contemporary crypto market has reached “seller fatigue” time. As for Mike digital currency prices have already hit their bottom and are unlikely to go lower.
Novogratz has noted recently that the digital currency market has got to the bottom. During his speech at Yahoo Finance All Markets Summit he highlighted that after a long cost crisis since February this year the market turned stable this fall.
On September 21 the major and the rest cryptocurrencies demonstrated stable and consistent rate growth. Bitcoin cost has risen by 4.5% overnight, Ethereum grown by 8%, while Ripple almost doubled.
When comparing current situation with cannabis-oriented organizations and BTC and ETH behavior a year ago Novogratz concluded, those shares undergo the same processes the major digital currencies had late 2017.
Remember that two days ago the US SEC asked for extra details on Bitcoin-ETF proposed by VanЕсk and SolidX and thus delayed the date of final verdict.