No ‘40% in a Day’ Altcoin Pumps Coming This Bull Market: Mike Novogratz

Gerelyn Terzo
Updated
The bull market of 2019 is not the same as 2017. Mike Novogratz says
The bull market of 2019 is not the same as 2017. Mike Novogratz says

By CCN: If you’re on the edge of your seat for the “crazy altcoin pumps” that the market experienced in the 2017 bull run, you might be waiting a long time. Michael Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, suggests that bitcoin will leave its smaller peers in the dust.

Ran NeuNer, the host of CNBC’s “Crypto Trader,” got the conversation started on Twitter when he observed:

“The market is running but we still haven’t seen the crazy alt pumps, pumps where coins do 40% in a day…is it coming?”

That’s when Novogratz burst the bubble, so to speak, responding that things have changed since the last bull run.

“Not this time. Market getting smarter. BTC will outperform.”

Bitcoin’s dominance is currently hovering at 56.7%. On this date in 2017, bitcoin’s dominance was nearly 10 percentage points lower at 47%.

Read the full story on CCN.com.