After an impressive few months of bull run, Bitcoin’s charm finally seems to have slowed down. After reaching the highs of $13,500 after more than a year, the top crypto has slipped to $9,500 after massive sell-offs. However, this doesn’t seem to have affected Michael Novogratz’s, founder, CEO, and chairman of Galaxy Digital predictions as he says that BTC could hit an all-time high of $20,000 by the end of the year.
https://t.co/ihDGqlDTKC. Canadian TV
— Michael Novogratz (@novogratz) July 25, 2019
I’m hoping it doesn’t get down there, but if it does, it wouldn’t surprise me. And then I think as these institutions that have gotten excited again, maybe toward the end of the year – hopefully sooner – we push out of that range and we go back to the old highs of $20,000.
Mike had been defending Bitcoin for some time now. A few days earlier, on Twitter, when a user asked him if Bitcoin was on the way down to $100, he got defensive and replied:
“If $btc goes to $100, it is game over. IT WON'T. It's already established itself as a store of value. Stop wasting your time with these tweets and go outside and enjoy the summer. $btc is consolidating before its next move higher. Let it work for you.”
His firm has been doing well in recent days. They announced that FINRA has granted the business expansion of its broker-dealer. The approval permits Galaxy Digital Advisors to act as an underwriter to registered public offerings of equity, debt or other corporate securities in the United States which adds to its existing abilities to lead private placements of securities as a placement agent and to provide advice on mergers and acquisitions.