Crypto billionaire Mike Novogratz: Bitcoin will reach $20,000 this year

Jul 27, 2019

Earlier this summer, crypto personality Mike Novogratz gave a somewhat modest forecast for bitcoin. He said that the price would stabilize between $10,000 and $14,000.

Sometime later, Novogratz, who founded Galaxy Digital (a company that helps institutional clients invest in cryptocurrencies), stated that this time he will not sell any bitcoin when the price hits $14,000.

In a recent interview with Bloomberg, Novogratz gives his view on the bitcoin price for the rest of the year. He believes the price will reach the previous record highs around $20,000 – as soon as institutional investors start showing great interest again.

This will happen towards the end of 2019, according to Novogratz, something he also mentioned in another prediction in June, Cointelegraph reports.

Number of users is crucial

Novogratz also highlighted Facebook’s entry into the crypto world with its planned cryptocurrency libra. He said the social media giant’s over two billion users will be crucial in getting many people to start experimenting with the cryptocurrency.

The hard part about doing business is usually to attract customers, according to Novogratz, who also emphasized that the messaging service Telegram will release its cryptocurrency “ton” in just a few months.

“In about two or three months Telegram is launching their blockchain. Telegram is about 218 million users. So before Facebook launches, we are going to have a real view at an experiment called Telegram, where they also have a user base”, Mike Novogratz said in the interview, according to Cointelegraph.

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