Mike Novograz: I sold some bitcoins on Wednesday, and I had to sell more

The head of the Galaxy Digital Cryptocurrency Bank, Mike Novograts, spoke about the reasons for the recent rise in Bitcoin, and also admitted that he managed to sell a small amount of coins last Wednesday, when the price of the first cryptocurrency updated this year's new record. He stated this in an interview with CNBC .

So, Novograts, like some other experts, believes that the rise in the price of the first cryptocurrency was significantly influenced by the news about the launch of Libra's digital currency from Facebook.

“One of the largest companies in the world has demonstrated that it believes in digital currencies. If you are an institutional investor who is still worried about whether to invest [in cryptocurrency], this will give you much more confidence, ”Novograts said.

Another reason for the growth of Bitcoin, the head of Galaxy Digital considers the increasing activity of investors from China.

In addition, Novograts said that he sold “some” bitcoins on Wednesday, but now regrets that he did not sell more.

“Ideally, you had to sell a whole bunch of coins. When there is a parabolic growth, you have to do it, ”said the cryptobank CEO.

He also expressed the opinion that in the near future the price of the first cryptocurrency will be delayed in the range of $ 10,000- $ 14,000.

Recall, in the evening of June 26 Bitcoin flush crept towards $ 14 000. However, at some point, the rapid growth gave way to a spectacular fall below $ 12,000.

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