{"id":8674,"date":"2021-06-23T22:54:09","date_gmt":"2021-06-23T22:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/mike-novogratz-institutional-investors-will-see-bitcoins-price-decline-as-opportunity-to-buy\/"},"modified":"2021-06-23T22:54:09","modified_gmt":"2021-06-23T22:54:09","slug":"mike-novogratz-institutional-investors-will-see-bitcoins-price-decline-as-opportunity-to-buy","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/mike-novogratz-institutional-investors-will-see-bitcoins-price-decline-as-opportunity-to-buy\/","title":{"rendered":"Mike Novogratz: Institutional Investors Will See Bitcoin\u2019s Price Decline as Opportunity to Buy"},"content":{"rendered":"

Galaxy Digital CEO Michael Novogratz says he is not nervous about bitcoin\u2019s price falling, even when it falls below $30K. \u201cThe ecosystem is so much more mature. The amount of players that are moving in are so much more mature. Every single bank is working on their own crypto project,\u201d he said.<\/strong><\/p>\n

Novogratz Still Bullish About Bitcoin<\/h2>\n

Mike Novogratz commented on the bitcoin market Tuesday in an interview with CNBC as the price of the cryptocurrency fell below $30K. Commenting on the falling BTC<\/a> price, Novogratz said:<\/p>\n

If it\u2019s really breached, $25,000 is the next big level of support \u2026 I\u2019m less happy than I was at $60,000, but I\u2019m not nervous.<\/p>\n

The Galaxy Digital CEO opined: \u201cWe had China really be much more forceful in their idea to ban cryptocurrency. That\u2019s created a retail deleveraging. A lot of crypto happens in Asia, a lot of it is Chinese focused. So we\u2019re seeing big liquidations, so it\u2019s hard to call a bottom.\u201d<\/p>\n

Novogratz believes that the Chinese government\u2019s crackdown is a long-term positive for bitcoin. \u201cMaybe not in the short run, but it\u2019s a good thing. That\u2019s what\u2019s created this excessive volatility that we\u2019ve seen,\u201d he detailed.<\/p>\n

Recently, Facebook\u2019s head of payments and the Diem crypto project, David Marcus, also said that China cracking down on bitcoin mining is \u201ca great development<\/a>\u201d for bitcoin. Many people agreed with him on Twitter.<\/p>\n

<\/p>\n

Overall, Novogratz does not expect bitcoin to suffer a massive crash, elaborating:<\/p>\n

The ecosystem is so much more mature. The amount of players that are moving in are so much more mature. Every single bank is working on their own crypto project, how they can get bitcoin to their wealth clients.<\/p>\n

\u201cI think a lot of clients that didn\u2019t buy it the first time will see this [the low price level] as an opportunity to buy it and get involved,\u201d he concluded.<\/p>\n

What do you think about Mike Novogratz\u2019s comments about bitcoin? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, bitcoin prediction, Buy Bitcoin, Galaxy Digital, insitutional investors, institutions buy bitcoin, Mike Novogratz, mike novogratz bitcoin, mike novogratz bitcoin prediction, price prediction<\/p>\n","protected":false},"excerpt":{"rendered":"

Galaxy Digital CEO Michael Novogratz says he is not nervous about bitcoin\u2019s price falling, even when it falls below $30K. \u201cThe ecosystem is so much more mature. The amount of players that are moving in are so much more mature. Every single bank is working on their own crypto project,\u201d he said. Novogratz Still Bullish…<\/p>\n","protected":false},"author":0,"featured_media":8675,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8674"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8674"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8675"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}