The current roller coaster ride of Bitcoin seems to have added a new debate in the market about the narrative the digital currency has created earlier in the market. Reaching its peak in March and April with the value of 64K USD in the market, the current 50 percent decline has raised too many eyebrows all across the world. The experts are divided, yet a majority of people feel that digital currency is going to take back to the next level. One man who seems to be active in this domain is none other than Mike Novogratz, who seemed to have come along with the institutional investor who is seen waiting for some ray of hope. He happens to be the Group CEO of the company Galaxy Digital dealing with Cryptocurrency. This man seems to have declared some kind of institutional investment that seems to be waiting to catch up in the upcoming narrative shift, as seen in his recent interview where he was seen speaking at the Bitcoin 2021 Conference in Miami.
The company CEO is planning to think of different market levels that are seen coming along with the consolidation phase that is seen coming up with the price crash as seen in the last month. The Group CEO also claimed that the rise and fall remain the part of the game, and it would defy the system the standard banks operate, and we will see the difference in the coming future. As per Novogratz, the Bitcoin investment is seen waiting for long to say, while the narrative surrounding the same invests the same. He claimed that Bitcoin is seen still finding out the phase with the consolidation after one can see the prices dumping down in the experiencing in the last month. As per reports, the entrepreneurs, one can find the possible investment taking downstairs, which is now seen coming along with the next asset once again.
There are several investments taking place in the coming next shift in the narrative surrounding digital currency. With this new push, one can find many people and groups pumping the money in the new forms of digital assets again, which would remain in the coming times that are seen waiting to see it lift again. With this new push, one can find things changing for the people who are willing to go long in this domain. Novogratz later spoke to Yahoo Finance, wherein he claimed that the institutional investors are more to be blamed for the recent tank seen in terms of the price. One can find the institutional investment taking place in order to collect Bitcoin at the cheaper level gaining the price of 9 K cost, and this seems to be at the sudden hike of the price coming this year. There is much more to explore at portals like https://bitcoinmadrid.io/ to get more on it.
A year later, one can find 60K USD in order to register for the cast in a deep-seated way while urging the same regarding the things happening. He said he would be sharing a long time for consolidation, and thus, they are seen waiting for some new kind of narrative in order to attend the same while saving them money in a big way. He then added that with the next wave of Bitcoin, one could see some more things added up with the digital currency. Novogratz, on the other side, is thinking about the new narrative norm that is seen shifting in a different way. One can find the Bitcoin or digital currency firms like crypto ETF coming up with the new blood as seen in the market.
Further talking about the same, we saw him saying that the state of the top digital currency firms are not going to hamper the way Bitcoin has suffered all these days. It is not going to even hamper conventional banks in a big way now and even in the future. Thus the negative narrative against the digital coin has to be understood and changed in the global market. This simply means along with banking services that are seen suffering over comparison. The banks are seen coming along with the lobby kind of affair in the coming times.