Mike Novogratz, an ex-Goldman Sachs partner and founding father of crypto merchant bank Galaxy Digital, said that he doesn't expect the Bitcoin (BTC) value to decline much additional in an interview published by Bloomberg on Dec. 18.

Speaking on Bloomberg tv, Novogratz opined that there'll not be much additional decline within the Bitcoin value, despite the recent slump within the market. Novogratz projected that the Bitcoin value can keep between $3,000 and $6,000 within the predictable future.

Novogratz continued, speech that the macro trading environment has become additional attention-grabbing than the digital assets market:

"We are getting into a cool era for macro. Crypto is a smaller amount exciting currently versus macro. Macro got quite boring for several years, and crypto was extremely exciting.”

The capitalist conjointly explicit that he's “fairly certain” that Bitcoin are going to be a digital store of wealth, together with the suburbanized worldwide system web 3.0. In Novogratz’s read, there'll be “a ton of tokenized objects,” like restricted partnerships, funds, art and “all varieties of things” within the close to future.

Earlier in December, Novogratz compared cryptocurrency market performance to a “methadone clinic.” He characterised Bitcoin’s meteoric growth in late 2017 –– that peaked at $20,000 per coin –– “a drug.” He referred to as the amount a “speculative mania,” adding that the “audience is additional sober now — the drug is gone.” At the time, the hedge fund manager said that the market was characterised by “pessimism” and “fear,” with individuals expecting the leading cryptocurrency to go “to zero.”

In November, Novogratz said that he expects cryptocurrency to “flip next year” since “that’s when costs begin moving again.” Novogratz expected that monetary institutions can transition from “investing in cryptocurrency funds to investment in cryptocurrencies correct within the first quarter of next year.”

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