Bitcoin is in the latest cryptocurrency news again. The price of the most dominant cryptocurrency was in the gaining mode yesterday when Bitcoin retook the $11,000 price mark and traders got whiplash from the dramatic swings. However, BTC has lost a lot of points overnight and is trading back to just over $10,600 at press time.
Not too long ago, the CEO of Galaxy Digital Michael Novogratz predicted that BTC would be range-bound for a while. He suggested that the market would hover between $10,000 and $14,000 which was true. Now, he is offering another bit of advice to investors who may be obsessed with checking the market price for millions of times per day. Now that Bitcoin retook $11,000, a fan asked Novogratz what would happen if Bitcoin fell to $100. To this, the controversial BTC bull took the bait and set the record straight, saying:
“If $btc goes to $100, it is game over. IT WON’T. It’s already established itself as a store of value. Stop wasting your time with these tweets and go outside and enjoy the summer. $btc is consolidating before its next move higher. Let it work for you.”
Hopefully the fan took the former hedge fund trader’s advice because the price of Bitcoin rose about 5% at its best levels today. What’s also hot in the altcoin news is Libra’s pain which is seen as Bitcoin gains. The long-expected cryptocurrency and the rumors around it made a lot of waves in the community, leading Bitcoin to surge, fall, surge and fall.
Even though many think that David Marcus has been the face of Libra, CNBC recently reported that a 26 year old named Morgan Beller is the actual head of strategy at Calibra (Libra’s wallet) and was the main inspiration behind Facebook’s crypto aspirations. The fact that Bitcoin retook the $11,000 level is also somehow linked to this.
“Morgan was really the first one, at least to my understanding. She’s done a fantastic job of getting other people in the cryptocurrency communities to get on board with Libra. She has a very outsize value-add from that alone.” one researcher at CNBC stated.
The Bitcoin price is off the highs on the day and is right now hovering at $10,600 on many exchanges which is why it is featured on many best cryptocurrency news sites.
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