Sirwin
Sirwin

The price of bitcoin will soon reach its all-time high


For the expert, Bitcoin would reach its historical maximum again before the end of the year.

Michael Novogratz stated in a recent interview that he expects the bitcoin price to hit $ 20,000 by the end of the year . This prediction by the founder and CEO of Galaxy Digital, would place the main cryptocurrency at its all-time high, previously reached three years ago, in December 2017.

 

With the price of bitcoin in the midst of a further bull run that drove it to hit $ 12,000 in the past 24 hours, Novogratz expects the momentum to hold . Among his reasons, he highlights his belief that the United States will encounter a massive "liquidity pump" that will cause the price to skyrocket , added to the FOMO (fear of missing out) of retail investors, who will enter the bitcoin space " as crazy . " Novogratz explained:

The liquidity story will not go away. We will receive a great encouragement. The Federal Reserve does not appear to be raising rates.  

The argument Novograt z that retail players scored such a huge difference is quite intriguing, because many times, analysts are confident that the presence of institutional traders or professionals makes the biggest difference in how or where the price of bitcoin goes. However, while institutional traders would typically buy more crypto assets or dig deeper into bitcoin-based options or futures contracts, retail investors are more basic and often simply buy or invest through exchanges, thus increasing the overall resistance of assets that possess.

 

Novogratz states that the process has already started, and commented that:

A large amount of money has been poured into gold and bitcoin.  

The millionaire was confident that he expects to see the price of bitcoin at USD 14,000 in the next three months, until October. This would mean that there would only be two months left until Bitcoin reached its all-time high again before the end of the year . Still, he is confident that Bitcoin has the strength to reach that historic milestone again.

 

As for the gold vs. bitcoin fight , Novogratz admitted that while bitcoin's reputation is growing among Wall Street players, many still tend to lean toward gold:

Gold has been around for 3,000 years. It is relatively easy to buy. Bitcoin has an adoption mechanism that is not found in gold.  

For their part, different exchanges support the sayings of Novograt z. Catherine Coley, CEO of Binance US, for example, explained that bitcoin and other digital currencies are easier to access than ever, which is why we are seeing a rise in bitcoin interest as the leading cryptocurrency rises in price.

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Mickael Pasquier
Mickael Pasquier

Interested in the field of cryptocurrency and blockchain


Mickael Pasquier
Mickael Pasquier

Only Crypto

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