Michael Novogratz, the CEO of Galaxy Digital provided a new bullish price forecast for bitcoin (BTC). Yesterday, Novogratz revealed to UK business publication Financial News that the leading cryptocurrency could get to “$20,000 or more” by next year.
Talking to the publication, he, who is popular for his optimistic outlook for Bitcoin Prices, forecast BTC/USD to end this year at almost $8900.
He said “Bitcoin has to take out $6,800, and after that, we could end the year at $8,800-9,000.”
The biggest cryptocurrency has refrained from any marked movements up or down in latest weeks rather than revealing a streak of stability which commentators like Tom Lee have stopped as signs show markets are growing and developing.
However, from next year, conditions may be changed markedly said Novogratz with investors “FOMO” (‘fear of missing out’) causing a rise in prices.
He proceeded that: “There’s going to be a case of institutional FOMO, just like there was in retail.”
That rush to invest should view bitcoin as “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.”
Last month, Novogratz made similar predictions, particularly focusing on the first half of 2019 for institutional interest and December 2018 bitcoin price is not higher than $9000.
Lee also continues his buoyant outlook for bitcoin in the short haul, telling cointelegraph in an interview that the coin was about to break out.