The founder of the cryptocurrency Bank Galaxy Digital investor Mike Novogratz (Mike Novogratz) said that yesterday, September 13, courses cryptocurrency reached a local minimum. This billionaire wrote in his Twitter.

In an argument, Novogratz led schedule Galaxy Bloomberg Crypto Index (BGCI), designed to track the dynamics of the market capitalization of the ten most liquid cryptocurrency.

“This is a graph BGCI… yesterday, I Think we approached the lowest point, reaching a peak late last year and passed the point of acceleration, which led to a rally/bubble… Markets ready to repeat the explosive growth… We’ve come full cycle bubble.”

Mike Novogratz often makes projections for the cryptocurrency market. At the July conference Beyond Blocks, which was held in South Korea, the entrepreneur suggested that many institutions will come to kriptonyte in two or three years. However, wide adoption of cryptocurrency and blockchain technologies will occur no sooner than five years. One of the reasons is the high cost of “technical talent”. Last year, Novogratz predicted that the total market capitalization in digital currencies could exceed $5 trillion in the coming five years.

Also this summer, Galaxy Digital published the first quarterly report for 2018, which showed losses of $134 million and an additional $85,5 million in unrealized losses from digital assets. In March the company reported that it has available assets in the amount of $281,7 million.