There have been many notable figures in the crypto ecosphere that have made almost outrageous claims that Bitcoin (BTC) will make a break to new all-time-highs, and Galaxy Digital CEO Mike Novogratz, keeps coming back to the table to profess that Bitcoin will get out of its slump of trending around the $6,500 price range. Speaking with Financial News, the former Goldman Sachs partner and hedge fund manager, believes that Bitcoin will make another meteoric rise to $20,000 sometime in 2019.
According to Novogratz, when institutional investors begin piling into the nascent sector:
“Bitcoin has to take out $6,800, and after that, we could end the year at $8,800 — $9,000.
By the end of the first quarter we will take out $10,000 and after that, we will be back to new highs — to $20,000 or more.”
Novogratz has joined the ranks of many other crypto enthusiast that believe when large and regulated financial companies, such as Bakkt and Fidelity Digital Asset Services, then other firms will need to jump in due to a FOMO. These comments come without the addendum that the US SEC may not approve a Bitcoin-ETF.
Over the past year, as the crypto markets began its descent, many VIPs in the crypto industry would make grand claims of Bitcoin making a resurgence. However, as the year progressed some of the bullish speculators have reigned in their optimism, such as Arthur Hayes who forecasted that Bitcoin will $50K by the end of 2018. Hayes changed his opinion to a more pessimistic tone where they will not be a recovery until Bitcoin hits $2,000.