Mike Novogratz: Bitcoin is the "best brand" in 11 years, the price will reach $ 20k thanks to halving

Mike Novogratz: Cryptocurrency market will turn over next year!

Bitcoin (BTC) has the potential to reach an all-time high of $ 20,000 and even surpass it by the halving event in May.

That's the opinion of billionaire venture capitalist Mike Novogratz - the famous always bullish on BTC.

Novogratz: Bitcoin is "the best brand in the last 11 years"

Talk with CNBC In an interview on February 14, Novogratz called Bitcoin "the best brand in the last 11 years" and said 2020 would be the year the coin will challenge the $ 20,000 level once again.

“Right now, Bitcoin is a bit crazy and we can see it skyrocket, but I think by the end of this year, it could definitely surpass the old peak, or at least hit the old peak. , ”He told the media.

"It could be there literally thanks to halving - in a few months."

CEO of cryptocurrency commercial bank Galaxy Digital made this comment at a time when Bitcoin achieved an impressive annual increase of 45%. Despite acknowledging altcoins that have beaten BTC on profits since the beginning of the year, Novogratz said Bitcoin has "found its own path" as the most valuable store of value.

"Perhaps Bitcoin is the best new brand in the last 11 years - a market capitalization of $ 200 billion for a line of code that came out 11 years ago," he continued.

“... Because everyone believed it was now a store of value - similar to gold, gold was present 3,000 years ago and capitalized at $ 10 trillion, while Bitcoin was only 11 years old with market capitalization of US $ 200 billion. ”

The bulls see "green".

In December last year, prior to the rally, Novogratz predicted that Bitcoin would reach a modest $ 12,000 this year.

His latest predictions are still very modest compared to other industry celebrities. Earlier this month, Tom Lee, founder of Fundstrat, announced that the BTC / USD pair will reach $ 27,000 by August. Lee points out that Bitcoin has crossed the 200-day moving average, and historically, such a move will trigger an average increase of nearly 200%.

Others also claim that the halving event - which will reduce the new supply of Bitcoin to miners by 50%, will eventually act as a catalyst for price increases.

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According to CoinTelegraph
Translated by ToiYeuBitcoin


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