Billionaire Mike Novogratz: Crypto Prices Have Bottomed


To crypto investors who lost (digital) money during the first half of September, there’s some good news. Billionaire crypto investor Michael Novogratz said on Thursday that cryptocurrencies are poised to rally because prices have bottomed out. The second good news is that prices continue to rebound as of early Friday trading.

“This is the BGCI chart…I think we put in a low yesterday,” said the principal of New York‐based Galaxy Digital on Twitter. “[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.”

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