Bitcoin will triple by 2021 at least this is what Mike Novogratz believes will happen in the next year-and-a-half. The BTC billionaire thinks that the price of bitcoin will surpass the $20,000 all-time high after it recovers from the price slump in 2018 and we find out more in our altcoin news below.
The Galaxy Digital CEO strongly believes that bitcoin is on its way to recovery and is currently doing great by reclaiming the $6,000 price mark. This is a good sign since it reached this point again since November 2018. Analysts believe that BTC bottomed out during the 2018 price crash when the number one cryptocurrency fell below the $3,000.
While speaking at the SALT Conference in Las Vegas, Mike Novogratz predicted that the price of bitcoin will triple in the next 12-18 months:
“Out of the rubble, bitcoin has popped back up. It would take something like that to shatter this newfound confidence.”
Since the start of 2019, Bitcoin increased by 65 percent and still continues to recover from the harsh bear market. Most of the gains happened between April and May 2019 when the largest cryptocurrency increased by 50 percent. According to the Bitcoin Bull, BTC going strong and it would take a serious event to crush its recent surge.
Following the latest cryptocurrency news, the bitcoin price was not affected by the recent happenings. The Galaxy Digital CEO is not the only one that is bullish about bitcoin. Multiple analysts have been rooting for a bitcoin bull run. Experts notice the improved technical fundamentals of the currency and claim an impending price surge.
Another popular bitcoin trader Peter Brandt who predicted the 80 percent crash in 2018, predicted that BTC is setting up for another massive growth similar to the one in 2017. Other enthusiasts say that the surge in interest for bitcoin will lead to another bullish cycle as well. Sources from Fidelity Investments say that the company will debut Bitcoin trading to institutional clients and this is another key indicator that the interest for bitcoin is growing. Fidelity could also be joining BTC trading providers such as TD Ameritrade and E-Trade. Bakkt is also working hard to get approval from the U.S Commodity Futures Trading Commission.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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