Authored by William Suberg via CoinTelegraph.com, Investor and cryptocurrency bull Mike Novogratz has fine-tuned his Bitcoin price outlook, repeating to Bloomberg Monday, October 15, that it would not break $10,000 in 2018.
image courtesy of CoinTelegraph The Galaxy Investment Partners creator, who is known for his optimism about Bitcoin's future, had previously called a “bottom” in the market in mid-September.
Now, he thinks more time is required for momentum to build to take prices higher, and the long-anticipated wave of institutional investors piling into the cryptocurrency space will only occur next year.
“…I think Q1 [or] Q2  if the institutions start coming in, we'll put in new highs,” he told the network.
Novogratz was speaking the day Fidelity Investments announced it would release a custody solution tailored to such institutional investors looking for security when interacting with cryptoassets.