The Head of Galaxy Digital Predicted the Growth of the Crypto Market in the Fourth Quarter

Galaxy Digital is a digital asset management company founded in 2018 by Mike Novogratz after leaving Goldman Sachs. Galaxy Digital was listed on the Toronto Stock Exchange on July 6, 2020.

Mike Novogratz is confident that Bitcoin will reach $80–100 thousand in the coming months, the Ethereum rate will exceed $5 thousand, and the rest of the altcoins will show parabolic upward movements.

In an interview with CNBC, Galaxy Digital CEO Mike Novogratz said that in his opinion, the cryptocurrency market will actively grow until the end of this year. In the fourth quarter, the price of bitcoin is able to renew its historical maximum and reach levels of $80 and $100 thousand, Novogratz predicted. According to him, at the same time, the Ethereum rate can grow to $5 thousand.

Other altcoins can show parabolic growth following the largest cryptocurrencies, noted the head of Galaxy Digital. Novogratz said that the reason for the active growth of the digital asset market was a large influx of investments in the cryptocurrency industry.

“We left China, we got out of regulation, and the market keeps holding. The market is still holding on because new money is coming in. In the first half of the year, $ 17 billion in new venture capital was invested. It’s a huge influx of money,” Novogratz noted.

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