THELOGICALINDIAN - Attention those who are trending against the bearish According to billionaire broker Mike Novogratz Bitcoin will bifold in the abutting six months and retest the old highs of 20k by the end of the year
Mike Novogratz Says ‘This Is the Year for Bitcoin’
Speaking to CNBC’s Closing Bell aftermost night, as the DOW bankrupt up 534 points, Novogratz was encouragingly bullish on Bitcoin. He acicular out that, for the aboriginal time, high-net-worth individuals and barrier armamentarium investors are accepting into Bitcoin. He said:
Novogratz additionally credibility to the actuality that Bitcoin is a adamantine asset and that we are starting to see absolute flows into it. He briefly brought up the trillions of dollars in quantitative easing that’s activity on and how bottomless that bearings is.
When asked for adamantine numbers, he said that Bitcoin should at atomic bifold aural six months. If it doesn’t, he may aloof “hang up (his) spurs.”
Sudden About Turn on Previous Predictions?
As a above broker in the space, the Galaxy Digital CEO is historically bullish on Bitcoin. He was amid the aboriginal to affirm a new balderdash bazaar aloof beneath one year ago and predicted that BTC would ability a new best aerial in 2019.
However, afterwards the barbarous sell-off two weeks ago, Novogratz told Anthony Pomliano in an account that crypto acceptance would acceptable suffer a setback of 12-18 months due to investors defective fiat.
But, that was so two weeks ago and afore the U.S. Congress accustomed a $2TN coronavirus bang deal. That may accept bolstered the banal market, but as Novogratz acicular out, it will eventually abase fiat.
As added and added bodies admiration area all the “helicopter money” is advancing from, now’s the time for Bitcoin to shine.
Do you accede with Mike Novogratz’s bullish angle on Bitcoin in 2025? Add your thoughts below!
Images via Shutterstock, CNBCClosingBell
