Bitcoin’s price will rise significantly in the long term, claims Michael Novogratz

Bitcoin [BTC] has been noting massive volatility recently, with the coin rising one moment, and falling the next. However, that has not stopped the community from expecting the coin to shoot up and reach its 2017 high. Michael Novogratz of Galaxy Investments, in an interview with Bloomberg, is of this opinion, stating that Bitcoin’s price could go significantly higher in the long term.

Novogratz spoke about the Bitcoin rally that took the price of the coin from $4000 to $13k, an important resistance. This, and Facebook’s introduction of Libra and the involvement of the likes of Uber and MasterCard, was welcomed by everyone in the cryptocurrency world, noted Novogratz.

The participation of the world’s biggest companies, along with Yale, Stanford and Harvard, has answered the question of institutionalization, and according to Novogratz, now the time is to ‘build the systems.’ As the price of BTC tries to cross the $12k mark, the ex-hedge fund manager stated that the price of the coin could consolidate between $10k and $14k for a while, before it takes the next leg that takes the price over $20k. Read More at AMBCrypto...

#BTC #Bullish