March 29, 2024

Michael Novogratz Confirmed His Forecast for Bitcoin at $ 20,000

Billionaire and Galaxy Digital founder Michael Novogratz has confirmed his $ 20,000 Bitcoin price forecast. At the same time, he expects an increase in the rate of the first cryptocurrency in the near future.

Novogratz made his statement during an interview on CNBC. He emphasized that after the Bitcoin exchange rate consolidates above $ 10,000, it will continue to grow and reach $ 20,000:

"I will be surprised if soon we do not take $ 10,000. After that, expect $ 14,000, and then $ 20,000."

The investor believes that the growth of the first cryptocurrencywill facilitate the activities of the government. However, he does not expect that Bitcoin will be used as a means of payment in the future - rather, it will become an analogue of gold.

“We see these terrible facts - huge financial incentives and how the US Federal Reserve finances all this,” said Novogratz.

He also recalled that China is developingdigital currency for the Asian region, which will be provided with the currency of leading local states. According to Novograts, in order to keep up with such innovations, the US should also develop a digital dollar.

Novograts said earlier that 2020 will be the yearbitcoin. After all, previous financial crises led to the appearance of the first cryptocurrency, so the situation in 2020 should make bitcoin more popular.

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