Michael Novogratz has faith in BTC: “This Rally will last”

• With the halving just around the corner, the crypto is getting ready for what could be one of its biggest rallies to date. 
• The community is anticipating what could happen following the halving event. 
• There are some people in the community that believe the coin could reach a high of over $10,000 before the event takes place.

With the bitcoin halving just around the corner, the leading cryptocurrency is getting ready for what could be one of its biggest rallies to date. The community is eagerly anticipating what could happen following the halving event but the reality is, no one knows for sure what could happen in a week's time. There are some people in the community that believe the leading coin could reach a high of over $10,000 before the event even takes place.

Last week, BTC surged by around 15% and with this in mind it didn’t take a lot to convince many investors to get on board the hype train and believe that bitcoin could really make it in the days coming up to the event.

Even though things seem to be going well in the run-up to the event, there are many people in the community that are afraid of a huge sell-off following the halving as speculators leave and take their profits.

People are very well aware that if a sale off did occur following the event, bitcoin is likely to go into a freefall. Many investors are on the edge of their seats to see what will happen.

One well-known bitcoin advocate and crypto figure, Michael Novogratz Is a strong believer that the leading coin will remain strong in the crossfire. Over the weekend, he said the following:

Halving is certainly important but what is making $BTC price rally is mostly new players buying it as a result of the new macro backdrop. This rally will last. https://t.co/Xk6CzyMzL9

— Michael Novogratz (@novogratz) May 2, 2020

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!