The cryptocurrency market has reached a minimum, now it will start to grow. So says the well-known investor and founder of Galaxy Digital Capital Management Mike Novogratz.
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
Novogratz published a chart of the Bloomberg Galaxy Crypto Index, which, in his opinion, shows that the market reached the same point as it was in mid-November 2017. After that, the cryptocurrencies began to rise in price, and the cost of bitcoin (Bitcoin) reached $20,000.
On September 12, after the total cryptocurrency market capitalization showed the lowest value since the beginning of the year, Bloomberg analyst Michael Patterson said that crypto’s 80% plunge is now worse than the dot-com crash in 2000. The next day the cryptomarket began to recover. Now the growth continues, almost the entire top ten most popular coins are traded in the green zone.