Bitcoin Price Already Hit the Bottom?
Galaxy Digital CEO Mike Novogratz expressed an opinion that Bitcoin price already hit the bottom. He makes reference to Bloomberg’s Galaxy Crypto Indeх saying that the industry already reached the level of mid November 2017. It was the starting point for Bitcoin price growth to $20 000.
It is interesting that Galaxy Crypto Index witnesses the development of the most liquid digital currencies in relation to the US Dollar.
Recently, Paul Krugman, famous economist, Nobel prize winner, crypto sceptic and Bitcoin oppositionist changed his mind about crypto currencies and stated that Bitcoin is “more useful than gold”. Previously he stated that BTC “wipes away 300 years of monetary evolution”, discontenting the crypto community. Now the economist believes that crypto currency will “evolve into something worth” in prospect.
It is curious that a couple of years ago some analysts predicted that Bitcoin price will not raise. Yukio Noguchi expressed an opinion that dramatic change of the market from bullish to bearish was connected to launching Bitcoin futures on the CBOE and CME exchanges.
Meanwhile the short-term Bitcoin price prediction remains positive.