We all enjoy an occasional good, bullish prediction regarding Bitcoin’s fate. And Galaxy Digital CEO Michael Novogratz is certainly a good source of those.
On November 5th, in his newest prediction, Novogratz told the Financial Times that Bitcoin may be hitting “$20,000 or more” in 2019. He was also optimistic about this year, predicting that BTC will end 2018 around the $9000 mark, saying:
“Bitcoin has to take out $6,800, and after that we could end the year at $8,800-9,000,”
Recent weeks were very stable for BTC, which for many, means that the market is finally maturing. Novogratz believes that we will see some serious movements next year, as that is when the institutional investors come in.
“There’s going to be a case of institutional FOMO, just like there was in retail,”
Novogratz believes that this should push BTC to re-take $10,000 in the first quarter of 2019 and eventually head for “$20,000 or more.”.
Back in September, Novogratz predicted that Bitcoin has finally found the bottom and that prediction held so far.
The time will tell if the 2019 prediction is accurate, but one thing we know for sure – the institutional investors are coming. The only question remaining is – “when exactly?”.
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