'Weird Coins Like DOGE and XRP Spike'- Galaxy Digital's Mike Novogratz Warns of a Crypto Market 'Washout'
Bitcoin bull and billionaire investor Mike Novogratz has warned about cryptocurrency market volatility in a recent interview stemming from the Barron’s and Marketwatch’s “Investing in Crypto” virtual event series. In general and over the long term, Novogratz is bullish about bitcoin and companies like Coinbase remaining prosperous.
Both dogecoin (DOGE) and XRP have seen colossal gains during the last seven days. At the time of writing, seven-day stats for XRP stand at +64.61% gained and dogecoin gained +114.15% this week. As far as shares of COIN launching, the Coinbase IPO was “monumental” for the industry Novogratz stressed.
Pankaj Balani, the CEO of Delta Exchange indicates his short term outlook after the COIN listing is a lot more optimistic than Novogratz’s opinion.
“Coinbase opened just under the 100BN valuation mark but it failed to sustain the initial gains and closed about 15% lower from the open price,” Balani said. “There have been some concerns around the valuation of the company, given the volatility in its earnings, but that does not take away from the fact that it has the largest market share amongst regulated centralized exchanges, in the U.S., and its business is close to a monopoly, at this point,” the crypto derivatives exchange CEO added.
'Weird Coins Like DOGE and XRP Spike'- Galaxy Digital's Mike Novogratz Warns of a Crypto Market 'Washout'
Bitcoin bull and billionaire investor Mike Novogratz has warned about cryptocurrency market volatility in a recent interview stemming from the Barron’s and Marketwatch’s “Investing in Crypto” virtual event series. In general and over the long term, Novogratz is bullish about bitcoin and companies like Coinbase remaining prosperous. Both dogecoin (DOGE) and XRP have seen colossal gains during the last seven days. At the time of writing, seven-day stats for XRP stand at +64.61% gained and dogecoin gained +114.15% this week. As far as shares of COIN launching, the Coinbase IPO was “monumental” for the industry Novogratz stressed.
Pankaj Balani, the CEO of Delta Exchange indicates his short term outlook after the COIN listing is a lot more optimistic than Novogratz’s opinion.
“Coinbase opened just under the 100BN valuation mark but it failed to sustain the initial gains and closed about 15% lower from the open price,” Balani said. “There have been some concerns around the valuation of the company, given the volatility in its earnings, but that does not take away from the fact that it has the largest market share amongst regulated centralized exchanges, in the U.S., and its business is close to a monopoly, at this point,” the crypto derivatives exchange CEO added.