Novogratz Predicts Bitcoin To Reach $20k Next Year

Published 5 years ago on November 06, 2018

Novogratz Predicts Bitcoin To Reach $20k Next Year

Ever since the former Wall Street banker, Mike Novogratz hijacked the crypto ecosystem, he’s never been afraid of making predictions regarding the future of Bitcoin or for that matter, the future of the whole industry. Although some of his comments and forecasts have come under siege from industry experts and with a recent report from Financial News London it seems like Novogratz’ Bitcoin predictions are going to keep up as the prominent investor has issued more comments and predictions regarding this market. Speaking to the media outlet, the current CEO of Galaxy Digital went on to explain that Bitcoin’s relative non-action is likely to ‘bite the dust’ at the turn of the year.Despite his promising prediction, Novogratz explained that Bitcoin ‘has to take out $6,800’ which has been long seen as a crucial level of resistance and support for the leading cryptocurrency. If there is any chance that Bitcoin surpasses the $6,800 mark then this move being denoted by strong volume and positive sentiment, the Wall Street guru following up saying that $8,800-$9,000 by the end of the year has a big a big chance of happening.Come the first of January next year, if the figure of Bitcoin does reach the $9,000 mark (which is still possible) this is still far from the previous prediction he made earlier in the year for Bitcoin to surpass the $10,000 region by the end of the year. As mentioned by Ethereum World News, throughout this year, Novogratz has slowly but surely been lowering his predictions which could suggest that declining volatility and volumes have been somewhat changing his optimistic outlook which ran free during the late months of last year. During this time, Novogratz predicted Bitcoin to reach and surpass $40,000 and Ether to touch $1,500. Despite Novogratz frequently changing his forecasts, the former capital market savant added that $10,000 is still on the table with Novogratz “pointing out that the psychological level at five digits could be breached as 2019’s first fiscal quarter comes to a close.”Despite being vague on his prediction, the former Wall Street banker closed his Bitcoin price call by saying that after it reaches $10,000 we will see heights of $20,000 or more.What are your thoughts? Where do you see Bitcoin heading next year? Let us know what you think down below in the comments!

Investment Disclaimer

Adrian Barkley

Adrian is an avid reader who first stumbled across Crypto after reading 'The Basics of Bitcoins and Blockchains' by Antony Lewis in 2018. Since then, Adrian has immersed himself within the industry, and has a real interest in Enterprise Blockchain solutions.