Prediction of Bitcoin price is a very popular topic, several crypto enthusiasts have already made them, including Tom Lee, John McAfee, etc. It’s high time for Mike Novogratz to say something about the future rate of the world’s first cryptocurrency.
Amid the Bitcoin’s overcoming of $6000 mark for the first time in 6 months, Mike Novogratz thinks that this psychological mark is a stall point, citing:
“I think $6,000 probably is a stall point. We take out $6,000, the next one is $10,000. Would I be happy if we end the year at $10,000? Certainly I would.”
However, his belief in the power of Bitcoin doesn’t end there, he believes that in the next 18 month Bitcoin rate can go back to the old highs, it means that rate of the coin can overcome $20,000 by 2021. The former Wall-Street hedge fund manager and CEO of Galaxy Digital added that altcoins would grow as fast as Bitcoin as it happened during the bull run at the end of 2017. He named pretty much every coin, including Ethereum, Ripple, which would not go up so quickly as Bitcoin since they’d have to “prove use-case.”
Moreover, Mike Novogratz doesn’t think that the world’s first crypto will go back to his doom’s days when the rate showed its $3000 lows in December 2018.
Mike Novogratz commented on a recent security breach on Binance cryptocurrency exchange. He said that it is not good for the crypto space and that it’s a point of concern. He believes that such a situation can push regulators to adopt regulation laws. He is convinced that Bitcoin won’t suffer losses from this situation, saying:
“In bull markets, markets can digest bad news. We are in a bull market.”
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