Bitcoin will begin to rise from the middle of the year to reach new historical highs

The price of bitcoin fell sharply in the morning of Sunday 10 June when in a few minutes the market went from 7,600 dollars to 7,250, recording a loss of about 5 percentage points, in the same way the correlation of bitcoins with cryptocurrencies altcoin, being still strong, has brought sales on all the major digital currencies, among the top five most capitalized (ethereum, ripple, bitcoin cash, eos and litecoin) it’s possible to see discounts ranging from 5 to 9 percent, the total capitalization of the cryptocurrency market has fallen about $ 325 billion.

Despite the negative signs, some long-term forecasts are very good, Mike Novogratz, a billionaire investor and former trader Goldman Sachs and Fortress, told Erik Schatzker at the Bloomberg Invest Summit in New York that the cryptocurrency market will increase its capitalization 20 trillion dollars. In a twitt Novogratz states that:

Cryptocurrency will become a $ 20 trillion market. I believe it will be 10 times this. Remember: Fiat currencies will be drastically devalued. From 2021, the US dollar will only be worth 1/5 of what it is worth today.

Novogratz also stated that the cryptocurrency market will rebound from its main correction in mid-2018 and will exceed previous historical highs.

About Paolo Cianfriglia 28 Articles
Paolo is a financial analyst who likes to analyze and write about financial markets, especially abuot the fast-growing cryptocurrency markets. He writes for several websites and corporate blogs and at the same time offers advice to investors who are not yet familiar with the dangers related to the digital currency markets. Strongly motivated by the interest in blockchain technology, he loves sharing the news of the sector. Email Address: paoloweb@altcoinews.it

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