Mike Novogratz says the next move Bitcoin makes will be up

19 Mar, 2019
by Richard Allen
Opinion
Mike Novogratz says the next move Bitcoin makes will be up

As Bitcoin manages to stay above the $4,000 mark, major names in the crypto sphere have begun making predictions on when we’ll see the next bull run. The latest of which is Galaxy Digital’s Mike Novogratz.

Binance CEO Changpeng Zhao posted a poll on Twitter recently asking the community if they believed we were in a bear market or a bull market. Out of the 32,407 votes, 64% believed we’re in a bear market. Novogratz responded to the poll, stating that he believes we’re moving more sideways than anything else, adding “next move higher.”

Similarly, Fundtrat’s Tom Lee said several days ago said that the “tailwinds” that had been dragging Bitcoin down are beginning to ease.

Bitcoin’s trading volume has surpassed $11 billion for the first time in almost a year, which suggests that crypto experts have picked a good time to call a base.

During an interview with Bloomberg last month, Novogratz stated that Bitcoin will begin to distance itself from other cryptocurrencies. He likened BTC to gold, stating “If there's 118 elements on the periodic table, only one gold is valuable just because [of] its store of value."

Read more: Mike Novogratz: "Bitcoin is going to be digital gold"

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