Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Cryptocurrency billionaire Mike Novogratz recently predicted that the price of Bitcoin (BTC) could surge “much higher.”
“With pro-crypto leadership, global demand from the Middle East, and limited supply, the stage is set for much higher prices,” Novogratz wrote in a recent social media post.
The crypto mogul is convinced that $100,000 is just “the start” for the leading cryptocurrency.
Novogratz has noted that Bitcoin is currently in the process of “price discovery” after repeatedly setting new record highs over the past two weeks.
Related
The Galaxy Digital boss told CNBC that $100,000 was “almost inevitable.” “When markets get close to targets, they hit them,” Novogratz said.
Earlier today, Bitcoin surged to yet another lifetime peak of $98,310, according to CoinGecko data.
“I would not be surprised if we go much higher,” Novogratz told CNBC earlier this Thursday.
“A correction is inevitable”
Despite his bullishness, Novogratz believes that a price correction is “inevitable.”
“The crypto community is levered to the gills, and a correction is inevitable,” he added.
Related
Novogratz criticized the ETF products that offer amplified exposure to the red-hot MicroStrategy (MSTR) stock. He has warned that those who are toying with these risky products are “asking for trouble.”
That said, Novogratz is “very confident” that Bitcoin is not going to drop below the $80,000 level. “It would be shocking to me if we went back,” he said.
#Bitcoin #Nearing #100K #Start