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Mike Novogratz, the CEO of crypto investment firm Galaxy Digital, predicts that bitcoin will break out of its 2018 doldrums and skyrocketed to $20,000 in 2019 because of the activity of institutional investors, according to the report of Financial News.

“By the end of the first quarter [of 2019], we will take out $10,000. And after that, we will go back to new highs — to $20,000 or more.” Mike Novogratz told to Financial News.

Former Goldman Sachs investment banker believes that the fear of missing out by institutional investors will drive the market up over the coming months as cryptocurrency assets gain more mainstream acceptance with the appearance of traditional finance players.

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