As a seasoned analyst with over two decades of experience in the financial markets, I’ve seen my fair share of market predictions and trends. However, when it comes to Bitcoin, even I find myself pausing to consider the insights of someone like Mike Novogratz, a renowned crypto mogul who has navigated this nascent industry with remarkable success.
Cryptocurrency billionaire Mike Novogratz recently predicted that the price of Bitcoin (BTC) could surge “much higher.”
In a recent post on social media, Novogratz expressed that with leaders who are supportive of cryptocurrency, increasing interest from the Middle East, and a shortage in supply, there’s a strong indication that prices could significantly rise.
The crypto mogul is convinced that $100,000 is just “the start” for the leading cryptocurrency.
Novogratz observes that Bitcoin is presently undergoing a phase of determining its true value, following multiple instances of hitting unprecedented peak prices during the last fortnight.
As a cryptocurrency investor, I can’t help but feel a sense of anticipation when I hear Mike Novogratz, the head of Galaxy Digital, predicting that $100,000 for Bitcoin is “almost inevitable.” It seems that when markets approach their targets, they often reach them. So, I find myself wondering, could this be the moment we’ve been waiting for?
This afternoon saw Bitcoin hitting a new all-time high of $98,310, as per the statistics from CoinGecko.
“I would not be surprised if we go much higher,” Novogratz told CNBC earlier this Thursday.
“A correction is inevitable”
Despite his bullishness, Novogratz believes that a price correction is “inevitable.”
“The crypto community is levered to the gills, and a correction is inevitable,” he added.
Novogratz expressed concerns about Exchange Traded Funds (ETFs) that provide heightened exposure to the popular MicroStrategy (MSTR) share. He cautioned potential investors that engaging with such high-risk products might lead to unwanted complications, stating that they are essentially inviting trouble.
Speaking of which, Novogratz expresses strong conviction that Bitcoin’s value will not fall below $80,000. He finds it surprising if we retrace our steps to that level.
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2024-11-21 20:21