March 4, 2024

Michael Novogratz: “Bitcoin needs to return above $ 7,500”

Michael Novogratz, founder and CEO of cryptocurrency bank Galaxy Digital, is concernedyesterday's fall in the rate of the first cryptocurrency below $ 6,500.

“Bitcoin exchange rate must return above $ 7500 for the next couple of days, otherwise we will be stuck for a long time in the range of $ 6000- $ 7400, and this will be unpleasant. Although BTC today has almost doubled in a year, I much more liked the rate above $ 10,000, ”wrote Novogratz on Twitter.

An analyst under the pseudonym PlanB believes that Bitcoin could well close the year above $ 10,000.

Novogratz stressed that despite the recent drop in the bitcoin rate, its growthsignificantly exceeds the growth of traditional assets such as gold or the S&P 500 index, which has risen only 25% over the same period.