Bitcoin ‘Seller Fatigue’ Means Market Has Bottomed, Michael Novogratz Tells Yahoo

Galaxy Digital CEO and infamous Bitcoin (BTC) supporter Michael Novogratz says cryptocurrency markets have hit “seller fatigue,” repeating his belief that prices have bottomed, various media outlets report Friday, September 21.

As part of his comments at Yahoo Finance’s second annual “All Markets Summit,” Novogratz, who last week “called a bottom” for crypto on social media, said Bitcoin’s price drops throughout this year had demonstrated its new stability.

“Bitcoin has held $6,000. Yes, it is off its highs, but it has established itself as a store of value,” he told the audience quoted by Reuters, adding:

“I think institutions are moving towards investing. It’s shocking how much has happened.”

Both Bitcoin and major altcoins were seeing a renaissance Friday after a week of flat performance, with BTC/USD climbing to highs above $6700 at press time.

Ethereum (ETH) delivered gains of almost 11 percent in 24 hours, hitting $230 for the first time since September 6…

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