Mike Novogratz, a former Wall Street banker, Bitcoin bull, and founder and CEO of Galaxy Digital Capital Management, has made some new and bold price predictions for Bitcoin.
Novogratz believes Bitcoin’s 10-month downtrend is nearing its end, and predicts that Bitcoin could revisit its all-time high in Q2 2019.
As reported by Financial News London, Novogratz explained that an institutional influx will take Bitcoin out of the slump to the previous all-time high and beyond sometime next year:
There’s going to be a case of institutional FOMO [fear of missing out], just like there was in retail.
However, Novogratz also explained that Bitcoin will first have to surpass key resistant levels to see a trend reversal. He then gave his new prediction for Bitcoin’s end-of-year price:
Bitcoin has to take out $6,800, and after that we could end the year at $8,800-$9,000.
Not only did Novogratz make a prediction for the end-of-year price, he also provided further details regarding where…