Mike Novogratz calls Cryptocurrencies Price Bottom

Celebrated Cryptocurrency Investor, Mike Novogratz, CEO of Galaxy Digital Capital Management, in a tweet just called a bottom for all Cryptocurrencies.

Novogratz tweet is a snapshot of the Bloomberg Galaxy Crypto Index, which measures the performance of the top cryptocurrencies traded in USD. The index tracks the performance of crypto assets, like Bitcoin, Ethereum, Monero, XRP, Litecoin, and ZCash and was established in may of this year.

This is the BGCI chart…I think we put in a low yesterday. retouched the highs of late last year and the point of acceleration that led to the massive rally/bubble… markets like to retrace to the breakout..we retraced the whole of the bubble. #callingabottom pic.twitter.com/EasTBYgjSj

— Michael Novogratz (@novogratz) September 13, 2018

The tweet has gained massive traction and there are some who look bullish on his claims and analysis. To back his claims, the markets have bounced back with the total market cap having surged by more than $13 Billion today with the top 20 in the green, according to CoinMarketCap.

Blockmanity’s Take

Mike Novogratz has a lot to stake with this claim but we see other promising signs with Wall Street and traditional banks also entering the crypto world.

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