RATE Group | Bitcoin Could Reclaim Its Peak, Hit $20,000 by Year-End: Novogratz
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Bitcoin Could Reclaim Its Peak, Hit $20,000 by Year-End: Novogratz

25 Jul Bitcoin Could Reclaim Its Peak, Hit $20,000 by Year-End: Novogratz

Posted at 23:43h in Bitcoin News by

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Some in the crypto community were left wondering if Michael Novogratz was still bullish on bitcoin after he recently took some bitcoin profits and kicked himself for not taking more. Being the astute trader that he is, Novogratz was just looking to buy back in at lower levels, an opportunity that doesn’t come around every day. Turns out the Galaxy Digital CEO knew exactly what he was doing, and now he’s feeling bullish once again.

After accurately predicting a period of consolidation for BTC and a range of roughly $10,000 to $14,000, Novogratz now tells Bloomberg that it’s only a matter of time before the bitcoin price reattains its former peak. He points to bitcoin’s “big move” from $4,000 to nearly $13,500, saying he expects the consolidation to continue. Novogratz believes bitcoin will continue to trade in a range of $10,000 to $14,000, with $8,500 as the “low that holds,” adding:

“I’m hoping it doesn’t get down there, but…

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