Taking into account the positive mood in the crypto market and the growth of the BTC rate this year, well-known investor Mike Novograts believes that Bitcoin is waiting for consolidation in the range of $ 7,000- $ 10,000. The billionaire still does not exclude that a significant rush can help cryptocurrency to break out much higher.
During the online conference, which was held on May 30, the CEO of Galaxy Digital, commenting on the company's financial achievements in the first quarter of 2019, noted that in the future BTC would be consolidated in the area between $ 7,000 and $ 10,000.
Novograz connects the BTC rally this year with more active recognition of digital currencies and blockchain technology by Wall Street, as well as influential companies such as Facebook, Fidelity, Microsoft. Novograz recalled that Facebook is developing its own cryptocurrency, and Microsoft is working to create a decentralized system for identification using the blockchain. The direction of activity of these companies only confirms the numerous opinions that cryptocurrency has great potential.
Meanwhile, in the first quarter of this year, the net profit of Novograc was $ 12.9 million. This amount, however, does not cover damage for 2018, and that is $ 272 million. Note that during the cryptozymes Novograts was optimistic and hoped that the arrival of institutional investors to the crypto-market would correct the situation. It seems that for good reason, since then the rate of BTC has increased by more than 120%.
