Successfully predicting Bitcoin consolidation between $ 10,000 and $ 14,000 levels, crypto-entrepreneur Mike Novograz said that raising prices to historic highs is only a matter of time.
In a conversation with Bloomberg, he recalled the “major move” from $ 4,000 to $ 13,500 as a factor in the likely continuation of consolidation. In his opinion, Bitcoin will continue to trade within the same range and, as a last resort, will drop to $ 8,500, where the “level that it will endure” is located.
“I hope that he will not go down there, but if this happens, I will be surprised. I think that as institutional investors get excited again, towards the end of the year, but I hope earlier, we will get out of this range and move to previous heights of about $ 20,000 , ”he said.
Novograz believes that large companies and trust funds from leading educational institutions, including Yale, Harvard and Stanford universities, expect cryptocurrency to play an important role in the future. He suggests that their actions will have an impact on other major investors.
At the same time, he is not concerned because of the possible obstacles that lawmakers may pose for the crypto-currency project Facebook . In addition to Libra, there is the TON blockchain, which is about to be launched before the end of the year, with hundreds of millions of people potentially becoming users, the businessman added.
“I think that the probability of distributing products on large platforms from among the existing ones is quite high, and all this will subsequently be transferred to a wider cryptocurrency community,” he added.
This week it became known that the company Novogratsa Galaxy Digital received a license of the underwriter in the Financial Services Regulatory Authority (FINRA).
Publication date 07/27/2019
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