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By 2018, the crypto market has fallen the hardest and is expected to recover this year.
But most voices in the crypto space are not price driven, but traditional adoption. And 2019 is expected to be the year of the mbadive adoption of crypto.
Novogratz says the market will eventually recover
Goldman Sachs' former partner, Michael Novogratz, has made some interesting predictions about the future of cryptography markets.
He added that the market would eventually recover all the more since there are so many achievements and developments underway these days.
CryptoGlobe notes that there are "tons" of developments that unfold "under the hood".
Novogratz is currently the CEO of Galaxy Digital Holdings Ltd. (GLXY), a New York-based company focused on the digital badet industry.
He recently bought $ 5.5 million worth of additional shares from the investment bank he created.
It is quite impressive that the acquisition of Novogratz comes at a difficult time in the cryptography market when prices do not necessarily show signs of recovery.
He does not think prices will recover in a few months, but he is confident that the market will recover one day.
Realizing having tweeted about crypto for a while. It's a grind. Do not think we'll be going north for at least a few months. It always takes longer for institutions to move. Very confident, they will do it. Tons of activity under the hood. Stay on course
– Michael Novogratz (@novogratz) February 1, 2019
Institutional interest grows
Regarding the involvement of institutions in the cryptographic space, he explained that institutions take longer to move.
Bakkt acquired $ 182.5 million in investment capital from investors who believe in the future of crypto. Here are some awesome names: Microsoft Venture Capital, Pantera Capital, Galaxy Digital, Horizon Ventures, CMT Digital, Protocol Ventures, among others.
In 2018, Kelly Loeffler, CEO of Bakkt, explained: "Bakkt's interest]is focused on creating institutional access for digital badets, as well as merchant and consumer uses, and we are already developing that vision, working with such great companies as Starbucks. "
The official launch of Bakkt has been delayed due to the closure of the US government.
Eduard Watson Author
Financial writer for more than 10 years, active industry observer and gadget enthusiast.
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