A former hedge fund manager and billionaire investors Michael Novogratz who been a huge supporter of bitcoin predicts the world of cryptocurrencies will be increasing to a great extent in five years more than $5 trillion if they receive the huge acceptance around the globe.
According to the Novogratz, the companies have developed their business and provide the satisfaction to regulators. The recent cyber attacks on bitcoin in which the attackers have disabled the network and computers with the ransom demand of $300 bitcoin payment. Similarly, back in May, the incident WannaCry attack remind the same situation.
But the recent all these attacks hardly impacted the price of bitcoin, the current trading, and best bitcoin rate, according to the coindesk is $2558. 85. The bitcoin price gained the increase of 140% during the year 2017 and the cryptocurrency Ethererum reached from $8 to $240. As per the Market capital data, the bitcoin reaches its almost double rate with $41,973,033,307, where ethereum has the market cap of $28,589,831,650.
Novogratz has invested his 10% of net worth in the cryptocurrencies Bitcoin and ether from which he gained a huge profit when they surged higher. He also wants to invest more in bitcoin if the bitcoin price falls to $2,000 and ether price fall between $200 to $150.