The CEO of Galaxy digital has made known his opinion about the fate of the bitcoin going into the New Year. He asserted that the price of bitcoin is set to experience a rise come the start of the New Year. In addition to this, he believes that the price of bitcoin could even go as high as $20,000 or more come to the turn of the year. He revealed all this while he was talking to Financial Times who run a business publication.
During his chat with them, he asserted that bitcoin would close the year with about $9000 in value. While he has full confidence in his prediction, it is important to note that Bitcoin itself has preferred to release reports that showed the stability of the digital currency in recent times instead of talking about the rise of the currency. For both marketers who are observing the cryptocurrency, the signs of stability which bitcoin is showing are signs that the market is slowly and gradually maturing.
Most investors will invest in Bitcoin next year with the fear of missing out (FOMO). This will drive the price up even more.
However, Novogratz insists that next year would see a dramatic change. He asserts that most investors would invest heavily in bitcoin next year with the fear of missing out driving them on. He believes that the impact of the institutional drive would eventually lead to a rise in prices sooner or later.
Further explaining how he believes everything would work out, he stated his belief that by the end of the first quarter, bitcoin would be at least $10,000 which would lead to more than $20,000 at the end of the fourth quarter. It is important to note though that this is not the first prediction that Novogratz is making about bitcoin. He earlier this year had predicted that bitcoin would increase in the first quarter of next year due to the power of institutional interest playing a hand while he also predicted that the prices of bitcoin would see a rise to about $9,000 by the end of the current year.
This would definitely come as good news to various investors into the bitcoin market as they would pray that this prediction comes to pass. However, with bitcoin keeping quiet as to the expected future rise of the cryptocurrency, only time would tell if it is bound to happen or not.
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