Mike Novogratz, the legendary investor and founder of Galaxy Digital, believes Bitcoin will see its price “increase significantly” in the next couple of years. In an interview with Bloomberg Technology, Novogratz said that investment banks will be the next big players to enter the space and push BTC’s price beyond $40,000.
Consolidating market doesn’t mean less action
Things got carried away in the past few weeks in the crypto market, but there’s no doubt that Bitcoin will see its price grow significantly in the near future. These were the words of Mike Novogratz, the founder of Galaxy Digital.
In an interview with Bloomberg Technology, the legendary investor shared his thoughts on the latest developments in the crypto market, predicting a bullish future for the world’s largest cryptocurrency.
Bitcoin’s latest rise to almost $14,000 was fueled by an increased interest in the crypto industry. With some of the biggest companies in the world, such as Facebook, Uber, and Visa now participating in crypto, “things got carried away” and there was “too much energy in the market,” Novogratz said.
He added that now that the market is consolidating between $10,000 and $14,000, he believes that the next high will push Bitcoin’s price to over $20,000. However, another parabolic rise probably won’t happen until mid to end of the fourth quarter, Novogratz explained. When Bloomberg‘s Taylor Riggs asked him when the best time to sell would be, he said that he wouldn’t start trading until BTC went over $14,000. Read More at CryptoSlate...