Mike Novogratz’s revolution takes time view was put forward during peak crypto pessimism which was at the depth of a crypto bear market in late 2018.

Crypto investors experienced a vicious bear market in 2018 with cryptocurrencies collapsing 80% from their peak in January 2018 and leaving many of the weak hands bled dry.

But despite the crypto bloodbath surviving embattled investors were told by the king of cryptocurrencies tribe, Mike Novogratz, to “hang in there” because the big guns could be moving on side.

hang in there

MIKE NOVOGRATZ

Mike Novogratz’s revolution takes time view was a calling to investors that 2018 crypto correction represented a buying opportunity for institutional buyers

In a piece entitled, Mike Novogratz’s future Bitcoin rally dated October 2018 we wrote:

“Michael Novogratz, known as the king of cryptocurrencies, believes that a wave of institutional buying in Bitcoin, perhaps in the first half of 2019, is going to propel Bitcoin to new highs.”

So to refresh your memory here is what the king of cryptocurrencies said approximately five months ago, “…I think Q1 [or] Q2 [2019] if the institutions start coming in, we’ll put in new highs”.

While Mike Novogratz’s comment might have sounded farcical back then, nevertheless Bitcoin’s more than 11% jump in February suggests at the very least to reconsider Mike Novogratz’s revolution takes time to view.

“I think Q1 [or] Q2 [2019] if the institutions start coming in, we’ll put in new highs”

MIKE NOVOGRATZ

Has Mike Novogratz’s revolution takes time view based on institutional buying actually played out?

Yes, it is no longer a rumor institutional buyers bought cryptocurrencies and blockchain companies. Put another way, the smart money viewed the crash in cryptocurrencies and blockchain technology companies as a value restoration event, they have bought in cheap and are well positioned to sell into the next coming rally. Blockchain-related funds have invested $1.6 billion into the crypto-related industry since the beginning of 2018 — the inception of the current bear market, according to Diar Research.

“Bitcoin is ‘digital gold’ that will survive and thrive over the long haul”
Mike Novogratz

“2018 may have been a bloodbath for cryptocurrencies, but not so for blockchain-led operations having secured over $1.6 billion for projects that have garnered attention by their very backers,” wrote Diar in a research note to clients.

“The industry as a whole had secured over $3.9 billion up till October 2018, moving the tally upwards of $5 billion accounting for capital raised.”

So Mike Novogratz, the longtime crypto bull and CEO of cryptocurrency merchant bank Galaxy Digital recently took to stage to say that he was unfazed by the bear market.

“Bitcoin is “digital gold” that will survive and thrive over the long haul” said Mike Novogratz.

Mike Novogratz’s revolution takes time view could also imply that those tiny few at the apex of the food chain are giving this revolution the green light. The world’s central bank, the Fed could squash cryptocurrencies in the derivative market and yet they don’t do it.

Why? Cryptocurrencies could be a vehicle to capitalize on the next generation of disruptors, they will then build profitable businesses and be idealized. Giving to the capitalist tune will then deafen out the socialist beats to “soak the rich”. Wealth inequality has never been so extreme without a guillotine revolution.

So Mike Novogratz’s revolution takes time view is about a crypto revolution which may no longer be the revolution that the elites are worried about.