Michael Novogratz, one of the most well-known Wall Street investors, said that he would sell Litecoin after it surges. Litecoin has seen some significant gains. It soared over 70%. It is the fourth largest cryptocurrency behind Bitcoin, Ethereum, and Bitcoin cash.
However, Michael Novogratz said that he does not see Litecoin reaching the same gains as Bitcoin. He said that once Litecoin surges, he would sell it. Bitcoin is the future of cryptocurrencies, at least for now, according to Michael Novogratz. In fact, Michael predicts that Bitcoin can easily rise to $0,000 in the next two to three months.
The chairman of the US Securities and Exchange Commission said that there are many dangers in Bitcoin investing. Because of Bitcoin’s high prices, regulators are starting to look into it. However, many exchange platforms are starting to add Bitcoin to their platforms.
Novogratz said that institutional investors are not yet investing in Bitcoin. However, once they start doing so, and they are indeed looking into it as a potential asset, Bitcoin will start going up. For example, if Goldman Sachs starts investing in Bitcoin, it will jump to all-time highs. This is not happening yet, and although Goldman Sachs said that they are clearing some Bitcoin trading for their clients, very little to nothing is actually going on.
Besides Litecoin, there are other altcoins, or alternative cryptocurrencies, that are rising. Ethereum and Bitcoin Cash, are all becoming increasingly popular.