o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

After ‘Taking out’ $6,800, Bitcoin Will Hit ‘New Highs’ In 2019, Says Galaxy Digital’s Novogratz

Posted on November 6, 2018 by nbelov

A roof around $6,800 is a decisive factor in determining whether Bitcoin reaches $9,000 before the end of 2018, Galaxy Digital CEO says.

Galaxy Digital CEO Michael Novogratz delivered a fresh bullish price prediction for Bitcoin (BTC) Nov. 5. Novogratz told U.K. business publication Financial News that the leading cryptocurrency could hit highs of “$20,000 or more” in 2019.

Speaking to the publication, Novogratz, who is well known for his optimistic outlook for Bitcoin prices, forecast BTC/USD to end this year at around $8,900.

“Bitcoin has to take out $6,800, and after that we could end the year at $8,800-9,000,” he said.

The largest cryptocurrency has refrained from any marked movements up or down in recent weeks, instead revealing a streak of stability, which commentators such as Fundstrat Global Advisors analyst Tom Lee have hailed as a sign markets are maturing.

Next year, however, conditions should change markedly, says Novogratz, with institutional investors’ “FOMO” (‘fear of missing out’) causing a surge in prices.

“There’s going to be a case of institutional FOMO, just like there was in retail,” he continued.

That rush to invest should see Bitcoin “take out $10,000” by the end of Q1, from there continuing to break December 2017’s all-time highs and head to “$20,000 or more.”

Novogratz had previously made similar predictions last month, specifically targeting the first half of 2019 for institutional interest and a December 2018 Bitcoin price not higher than $9,000.

Lee also continues his buoyant outlook for Bitcoin in the short term, telling Cointelegraph in an interview that the coin was “preparing to break out.”

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • JP Morgan Embraces Blockchain Technology Yet Jamie Damon Stays Critical Of Bitcoin | Bitcoinist.com – Bitcoinist May 28, 2022
  • Terra (LUNA) 2.0 relaunches according to Do Kwon's revival plan May 28, 2022
  • What is the Impact of Quantum Computing on Blockchain and Cryptocurrency? – hackernoon.com May 28, 2022
  • Terra Goes Live With New Blockchain and LUNA Airdrop – Crypto Briefing May 28, 2022
  • Bitcoin price stuck below $29K as Terra LUNA comes back from the dead May 28, 2022
  • Traditional Fixed Income Account From Gluwa Hits The Blockchain – CoinGape May 28, 2022
  • Finance Redefined: Uniswap breaches $1T volume, WEF 2022 discussion on Terra, and more May 28, 2022
  • Can a lesson in bimetallism help the long-term stability of Bitcoin and privacy coins? May 28, 2022
  • Bitcoin network difficulty falls 4.3% to 29.897T, biggest drop in 10 months May 28, 2022
  • European Blockchain Convention 2022:The most influential blockchain & crypto event in Europe is back in Barcelona – The Coin Republic May 28, 2022
  • Identity and the Metaverse: Decentralized control May 28, 2022
  • India to roll out CBDC using a graded approach: RBI Annual Report May 28, 2022
  • The increasingly acute need for crypto-native insurance May 28, 2022
  • Stablecoins Now Falling? TerraUSD Blockchain’s Drop is a Massive Threat to All – Tech Times May 28, 2022
  • Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks – Altcoins Bitcoin News – Bitcoin News May 27, 2022
  • Crypto’s Future Is Even More Exciting Than Its Present – Barron's May 27, 2022
  • 3 metrics contrarian crypto investors use to know when to buy Bitcoin May 27, 2022
  • Brazilian university USP will conduct academic research in the metaverse May 27, 2022
  • CryptoArmor Joins the Texas Blockchain Council – Benzinga – Benzinga May 27, 2022
  • CryptoArmor Joins the Texas Blockchain Council – openPR May 27, 2022
  • On-chain data flashes Bitcoin buy signals, but the bottom could be under $20K May 27, 2022
  • Today in FinTech: Alternative Lending; Airfreight Payments; Blockchain Tech – PYMNTS.com May 27, 2022
  • One River's spot Bitcoin ETF application rejected by SEC May 27, 2022
  • Partisia Blockchain Collabs With Polygon to Ensure Privacy, Security By CoinQuora – Investing.com May 27, 2022
  • Falling Bitcoin price doesn't affect El Salvador's strategy: 'Now it's time to buy more,' reveals Deputy Dania Gonzalez May 27, 2022
  • WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement May 27, 2022
  • Blockchain Technology Optimizing the Supply Chain System in Agriculture – ReadWrite May 27, 2022
  • Crypto Biz: Smart Money is betting big on Web3, layer 2, May 19-25 May 27, 2022
  • Highlights: Day Three of BSV Global Blockchain Convention in Dubai – CoinGeek May 27, 2022
  • Hodler's guide to travel: Which platforms accept cryptocurrency? May 27, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com