Yesterday, there was a collapse in the crypto market – the price of BTC began to decline in the morning, subsequently losing $ 500 in a few minutes. Along with the decline in the price of the flagship cryptocurrency to $ 7,400, altcoins also did not hold their position – the TOP-20 coins rate fell by 8-11%.
Today, BTC managed to recover to the level of $ 7,600, the altcoin exchange rate also increased by 2-5% and only Bitcoin SV showed an increase of 11%. Meanwhile, well-known analyst Mike Novogratz explained on CNBC, what caused the fall yesterday. Among the main reasons that triggered the weakening of Bitcoin, he calls the suspension of Telegramb's ICO and the delay in the decision process regarding the Libra project in the US Congress.
In general, Novogratz is optimistic about the future of BTC. However, he assumes that initially the cryptocurrency will reach the level of $ 6,500, after which there will be consolidation, investor funds will begin to flow in the crypto industry, as a result of which Bitcoin will resume growth and reach $ 10,000.
