Bitcoin Flexes Its Muscle, Reclaims $11,000 in Abbreviated Weekend Rally

Seemingly out of nowhere, the bitcoin price rocketed past the psychologically important $11,000 level this weekend. No doubt traders are getting whiplash from the dramatic swings, as the range-bound BTC then pulled back to just over $10,900.

Not too long ago, Galaxy Digital CEO Michael Novogratz predicted that BTC would be range-bound for a while, suggesting the market would hover between $10,000 and $14,000, which it has. Now he is offering another bit of advice to investors who may be obsessed with checking the market price a million times per day.

A Bitcoin Core contributor who goes by Rhett Cryptography on Twitter posed the question:

“If Bitcoin fell to $100 how many would you buy?”

In a one-two punch, Novogratz took the bait and set the record straight, saying:

If $btc goes to $100, it is game over. IT WON’T. It’s already established itself as a store of value. Stop wasting your time with these…