RATE Group | Billionaire Mike Novogratz Draws Line in Sand on Bitcoin Price
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Billionaire Mike Novogratz Draws Line in Sand on Bitcoin Price

26 Nov Billionaire Mike Novogratz Draws Line in Sand on Bitcoin Price

Posted at 05:19h in Bitcoin News by

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Bitcoin’s recent plunge to below $7,000 pretty much shell-shocked much of the crypto community, leaving some market participants scrambling and others to speculate about why it happened. The months leading up to the next bitcoin halving event are supposed to be exciting, but bitcoin has once again proven its unpredictable not to mention highly volatile nature.

Source: Twitter

No crypto investors have been unscathed by the fallout, billionaire trader Mike Novogratz included. The Galaxy Digital CEO has felt the pain of the November sell-off, seemingly turning his attention to other causes when things seemed the darkest. Given that it’s darkest just before the dawn, bitcoin could break out of this rut sooner than later – but the clock is ticking.

Novogratz tipped his hand to how he is navigating the market and rather than making price predictions has described a fork in the road for the cryptocurrency. He is giving the BTC price until Wednesday to recover to $7,500, saying that if…

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