Investor and cryptocurrency enthusiast Mike Novogratz believes that Ethereum has not yet shown its full potential and the ETH rate can easily exceed $ 5,000.
The founder and CEO of Galaxy Digital spoke about the factors that make him believe in the continued growth of the second cryptocurrency:
“This is a combination of three factors. Payment applications and stablecoins are already running on Ethereum, and then there was a sudden boom in decentralized financing and collectible tokens, and almost simultaneously. All this continues to grow and Ethereum has become a kind of supercomputer, on the basis of which new projects grow. ”
He noted that it is dangerous to make predictions for an asset that has already significantly increased in price, but expressed the opinion that the ETH rate could easily exceed $ 5,000. Novogratz also said that he had doubled investments in cryptocurrencies and projects developing in this ecosystem. According to him, now about 85% of his fortune is invested in digital assets.
“You need to understand that growth will not last forever. The transition from the status of “it is not clear what” into an “attractive asset” can take place only once. And this growth of 30 or 100 times is not normal and happens quite rarely, “Novogratz noted.
Galaxy Digital CEO urged investors to be careful and lock in some of the profits. For example, buy a house, a car, or at least a new jacket with the money earned from the investment.
Note that on the evening of May 16, the cryptocurrency market began to decline. At the moment, the ETH rate is hovering around $ 3,500. At the same time, on May 12, the capitalization of the second cryptocurrency exceeded $ 500 billion for the first time.
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