Mike Novogratz speaks on Bitcoins Losses

Hey ninjas, how’s the trading? The largest and most popular crypto Bitcoin is once again trading below $10,000, BTC is reporting 7.97% losses in the last 24 hours as well as the majority of the top cryptocurrencies. BTC is currently trading at $9,384 at press time, crypto’s like Ethereum, XRP, EOS, Litecoin, Bitcoin Cash, and Binance coin have all reported a significant decrease in value in the last 24 hours.

Mike Novogratz, founder of merchant bank galaxy digital spoke on Bloomberg TV on the 29th of August saying that regardless of Bitcoins sideways trading this week, BTC is still up 200% this year. He told Bloomberg that BTC started the year trading at $3,800 and is now trading above $10,000, so BTC is up 200%, he said just hours before Bitcoin price reduced by $500.

Though the Bitcoin market has been trading sideways and BTC has fallen far below $12,000 which it achieved in June, BTC is still 200% above its price at the beginning of the year. For altcoins like Ethereum and XRP, the price value at press time is not so far apart from its initial price at the start of the year. Ether started off 2019 trading at $140, it achieved its highest point trading at $334 in June and has since been depreciating, ether is currently trading at $169. Ripples XRP started off 2019 trading at $0.36, and achieved its highest point so far in June trading at $0.47 and has since been depreciating, XRP is currently trading at $0.25.  

 


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