Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment. New Investors Holding Up The Market Billionaire Mike Novogratz was on CNBC’s “Squawk Box” to talk about the crypto market. Novogratz said that new investors were the reason bitcoin and ethereum price had held their high value. New investor enthusiasm has been on the rise since the bull market first slid into full gear at the beginning of 2021. But the recent turn of events in the crypto market has triggered a new wave of entrants into the space. Related Reading | CEO Of Soros Fund Management Confirms That The Family Office Is Invested In Bitcoin Novogratz puts the current crypto global wealth percentage at 0.5%, only a small number compared to other financial markets. Nonetheless, an impressive percentage is given that the crypto market is yet to enter its teenage years. The billionaire expects the percentage to rise well above 0.5% as more investors move into the crypto space. BTC price trading north of $54K | Source: BTCUSD on TradingView.com Speaking of new investors coming into the market and holding up the...
