Novogratz Readjusts Its Prediction for Bitcoin (BTC), Says It Might Not Reach Five-Digit This Year

Bitcoin (BTC), since its inception, has been able to grab the attention of many. Many didn’t believe in the digital currency the first few years after it was launched. Nevertheless, a lot of firms, individuals, and organizations have started developing an interest in the digital currency due to the great level of success it has shown over the years.

Novogratz’s Initial Prediction

The development and trend of the digital currency have given rise to many analysts in the industry, predicting the future value of the digital currency. Over the years, Bitcoin (BTC) has seen a lot of predictions from prominent investors and analyst in the crypto space. While the predictions of some are way off the hook, others have come pretty close a couple of times, even though it is actually difficult to predict the future value of a digital currency.

SEE ALSO:   Bitcoin bubble or boost: $30,000 - Bitcoin price prediction 2018 from a financial analyst (BTC Forecast News) - Sun Oct 21

Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$6,545.17
0.91%

Recently, Mike Novogratz – a billionaire investor and founder of Galaxy Digital, a digital currency merchant bank – came to predict that the value of Bitcoin (BTC) will hit the $10k mark before the end of this year. Novogratz said that the value of the digital currency would break the $6,800 and $8,800 levels before hitting and surging over the $10k level. Meanwhile, he predicted last year that the value of Bitcoin (BTC) will hit $40k this year.

Novogratz Readjusts Its Prediction for Bitcoin (BTC)

However, while speaking at the Economist Finance Disrupted event in Manhattan, the billionaire investors said that he doesn’t believe that the value of Bitcoin (BTC) will see five-digit growth this year. Novogratz said that he doesn’t even think the value of the digital currency will break over the $9k before this year runs out.

Novogratz has always been bullish on Bitcoin (BTC), and he said the digital currency would see more growth next year due to FOMO and an influx of institutional money into the crypto space.


LEAVE A REPLY

Please enter your comment!
Please enter your name here

nine − 3 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.