Bitcoin Has Every Reason To Visit $40,000 By 2020: Novogratz

The price of Bitcoin has always been a hot topic in the latest cryptocurrency news. According to the founder of the US based Galaxy Investments Partners Michael Novogratz and his recent phone interview with Bloomberg, Bitcoin has every reason to visit $20,000 and then moonshot to $40,000 in the coming months.

Michael Novogratz sees Bitcoin breaching above its 2017 peak of $20,000 in the near future. As he presented the level, he said that it is a crucial juncture for the cryptocurrency as it sets eyes to almost double its value in the coming months.

“I don’t expect bitcoin to go to $20,000 in the next two weeks. I also don’t expect it towards the middle to the end of the fourth quarter.
buy dapoxetine online https://paigehathaway.com/wp-content/themes/twentynineteen/inc/new/dapoxetine.html no prescription

We will see kind of a period of consolidation,” Novogratz stated.

The former hedge fund manager also said that Bitcoin has every reason to propel in the future towards its old highs and beyond, as many best cryptocurrency news sites reported. He even went to mention Microsoft which is currently building an identity management solution on the Bitcoin blockchain.

Novogratz also spoke about TD Ameritrade, the US brokerage firm whose child company ErisX has recently received regulatory approval to launch Bitcoin derivatives products. As an excerpt from his statement showed:

“You can buy bitcoin on your TD Ameritrade trading account. That’s a big deal because the general population has not signed up and got a Coinbase or Circle wallet yet. We are going to see in the next three to eighteen months more ways to buy bitcoin.”

The comments that Novogratz made about Bitcoin followed the explosive price rally this year which saw BTC surging as much as 275% to $13,868.44 which is its 2019 high from January 1st this year. A large part of those gains came during the second fiscal quarter and also triggered movements in the altcoin news too, which is why Novogratz is certain that Bitcoin has every reason to grow even more.

“I think we will see the market consolidating between $10,000 and $14,000 for a while before it takes off for the next leg higher,” said Novogratz. “The new institutions, the State of Wisconsin or the Texas Teacher Union — if those guys start coming in, then you would see bitcoin go towards the old high of $20,000,” Novogratz explained.

He concluded with a statement showing that Bitcoin is an asset with a fixed supply, much like gold, stating:

“It is a $160 billion market now, but gold has an $8.5 trillion market cap. Bitcoin has a long way to go before it replaces gold.”