Novogratz Sees BTC At $20,000 By The End Of This Year

The prominent cryptocurrency investor and Bitcoin bull is in the latest cryptocurrency news again. This time, Novogratz sees Bitcoin at $20,000 by the end of 2019 as he shared in an interview with Bloomberg.

Recently, many in the community were left wondering if Michael Novogratz, the CEO of Galaxy Digital, was still bullish on crypto and Bitcoin. This was after he took some Bitcoin profits and kicked himself for not taking more. However, he later revealed that he was just looking to buy back in at lower levels. As we can see from the interview which was featured on many best cryptocurrency news sites, Novogratz sees BTC reclaiming its peak by the end of the year.

Now, many of you know that sometimes, Novogratz is very bullish with his predictions – or more bullish than realistic. However, we can certainly say that the Galaxy Digital CEO knew what he was doing when he sold his BTC – and now Novogratz sees BTC at new peaks, feeling bullish once again.

After accurately predicting a period of consolidation for Bitcoin, the investor now tells Bloomberg that it is only a matter of time before the Bitcoin price reattains its former peak. He pointed out to Bitcoin’s “big move” from $4,000 to $13,500 and said that he expects the consolidation to continue. As the news show, Novogratz sees Bitcoin higher and believes that the most dominant cryptocurrency will continue to trade in a range of $10,000 to $14,000 with $8,500 being the “low that holds.”

He added:

“I’m hoping it doesn’t get down there, but if it does, it wouldn’t surprise me. And then I think as these institutions that have gotten excited again, maybe toward the end of the year – hopefully sooner – we push out of that range and we go back to the old highs of $20,000.”

https://t.co/ihDGqlDTKC. Canadian TV

— Michael Novogratz (@novogratz) July 25, 2019

Aside from the fact that Novogratz sees BTC higher, he said that the institutions accepting crypto and the recognition of crypto by big names such as Yale, Harvard and Stanford are all pointing to a bright future for BTC. Despite the “skeptics,” Novogratz says that the “probability of this really working has gone limit-up.”

When asked about Facebook’s Libra cryptocurrency, Novogratz was again featured in the altcoin news for his concluding statement in which he said:

“So I think the chance of adoption in these big existing platforms is pretty high and then that will spill over into the broader crypto community.”