& # 39; We're in a Beef Market & # 39; – Novogratz says Bitcoin price & # 39; Should & # 39; be $ 20K by 2021
Michael Novogratz, former Wall Street hedge fund manager and CEO of Galaxy Digital, is no stranger to bitcoin price development. He believes that the BTC will "recover its former $ 20,000 full-time over the next 18 months.
Bitcoin to $ 20,000 for 18 months
Bitcoin price 0 0 managed to regain the level of $ 6000 for the first time in 6 months Of course, the latest spike of the cryptocurrency has triggered some interest from various industry advocates.
Among them, Mike Novogratz has again said that $ 6000 Bitcoin "probably is a stall point."
I think $ 6,000 is probably a stall point. We charge $ 6,000, the next is $ 1[ads1]0,000. Would I be happy if we finish the year at $ 10,000? Surely I would.
But the former Goldman Sachs investment bank also said "probably we should go back to the old mounds once in the next 18 months, which is $ 20,000. "
Not like the last time
Novogratz adds that the next round will not be like the previous one we saw in 2017. He said we don't want to see "everyone else me When going up so fast. "
Naming Ethereum, Ripple, and pretty much everything that is not Bitcoin, the investor said they had to" prove their condition ".
Novogratz referred to the elements on the periodic table and confirmed his previous position that Bitcoin should be "Digital Gold."
114 items on the periodic table, maybe 118, only one is gold … has a store of value just because. Copper provides value for use. So they have to prove use cases. It means getting people in their communities, developers and worthy of something.
Newly Started Confidence Hard to Be Shaken
Furthermore, the investor does not seem to believe that Bitcoin will return to its $ 3K decline in December last year.
Commenting on the latest lift of $ 41 million in bitcoin from the world's leading crypto exchange, Binance, the investor said that it is not good for the room and that it is a problem.
What he thinks is that events of that kind will make the regulators push. When asked the question why the news of the hack did not adversely affect Bitcoin's price, Novogratz said:
In beef markets, markets can digest bad news. We are in a beef market.
Meanwhile, Bitcoins basics seem to be stronger than ever with record highs over a number of key metrics, including on-chain transactions, hash rate and block size.
What do you think of Novogratz's new prediction? Don't hesitate to let us know in the comments below!
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