Bitcoin has gone above $8,000 after a persistent upward movement since a week ago. Experts trust a bull rally has begun. Hedge Fund Manager Mike Novogratz shares that the following stage for bitcoin price is $10,000 and afterward straight to $20,000 while in coming months custody and regulatory clarity will acquire a group of institutional investors.
The hedge fund manager, Mike Novogratz who has been beforehand a partner at Goldman Sachs has been constantly vocal about bitcoin and digital currencies.
This time, in a meeting with CNBC’s Ran NeuNer he uncovered that bitcoin has officially bottomed out. Presently, the following stage for bitcoin price is $10,000 and after that $20,000.
In the Beyond Blocks Conference in South Korea, he likewise expressed that the greatest change this year is the institutional investors. He has additionally beforehand said that a group of institutional investors is coming into the crypto market.
“We are pretty much bottomed, I am not positively Bottomed, but it feels like we have”, comments Novogratz.
“I do think we are already building a nice bottom for the next move up. I think the next move up is gonna need custody from a trusted resource, it’s gonna need more regulatory clarity.”
Concerning hitting the 10k price, he shares “We won’t take out 10,000 without those two things because that’s what bring institutional investors in, but we are gonna get there.”
For the price journey, he shared,
“We are gonna take out $10,000 then go right to $20,000.”