Bright future for virtual currency: says Mike Novogratz

Lately, the sector of virtual currency is in need for the validation of those who are considered authorities in the field. This need for validation has arisen due to the changes in the market. The sector of digital currency is met with ups and downs every day and it is for this reason that it is essential that investors understand the risk that is plaguing the sector on the day-to-day basis. However, what has happened is that several eyebrows are being raised against the concept of cryptocurrency and what role it plays in the various economies. In these circumstances, it is beneficial for the field of virtual currency that a bitcoin bull like Novogratz has suggested that the future of virtual currency is bright.

Novogratz has also gone onto say that a major reason the condition of the value of Bitcoin has worsened is that a lot of companies has started talking about this sector. He believed that the fluctuation in the prices is an indication that increasingly, people are talking about this sector. Following a few recent developments in the field, he has also stated that now that companies like Starbucks and Microsoft are propagating the use of virtual currency, there is a chance that the value of this sector will go up soon.

Novogratz had some remarkable things to say about the market. He also added that virtual currency will be a field that the companies will not want to miss out on. As the competition increases, it can be believed that this competition will see to it that several companies adopt virtual currency simply by the dint of the fact that their competitors are. Novogratz believes that over a period of time, Bitcoin will start playing the role that is being played by Gold in the modern times, that is, it will be acting as a store of value.

Novogratz has also gone onto predict that the value of Bitcoin will increase towards the end of 2018 and will gain momentum at the beginning of 2019.