In an interview on CNBC's “Closing Bell”, the expert Mike Novogratz predicted that current liquidity will push the Bitcoin price to new heights. The price recently reached 10,000$, an increase of 40% since the beginning of the year.
“Bitcoin is probably the best new brand in the past eleven years. 200$ billion market cap for a line of code that came out eleven years ago. It is a social construct. It is not a technical thing. We could have taken the same line of code and called it 'Sarahcoin' and who knows what it would have been worth. Since then, people have believed that it is a store of value, much like gold. It's just that gold has 3,000 years and $ 10 trillion; Bitcoin has eleven years and 200$ billion."
Galaxy Digital Chairman and ICO Michael Novogratz says that Bitcoin price could rise to an all-time high in just a few months - along with Ethereum and EOS. He argued that Bitcoin, as well as the cryptocurrency market as a whole, will be a significant part of the global financial infrastructure. Despite the crypto exchange hacks and wild price swings that could make some 70-year-old investors nervous. This emerging asset class won't wait for the hesitant to join in and get on board.
New Bitcoin all-time highs are forecasted for next May when the halving happens.
As for the next big headline in Bitcoin price prediction, Novogratz says:
"At the moment, Bitcoin feels a little bit insane. The course rose very quickly. But I think at the end of the year we will surely break the old highs or at least get closer to the old highs. That's 20,000$. We could literally get there by the (Bitcoin) cut in half that will take place in a few months.”
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