Galaxy Digital CEO Discusses The Future Of Bitcoins Current Direction
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Throughout the crypto industry, there are many bitcoin advocates who believe that the price of the leading cryptocurrency could skyrocket in the future.
The former hedge fund manager, Michael Novogratz is one of these advocates and just after bitcoin experienced it’s resurgence above the $11,500 key resistance level, Novogratz said that the king coin is going straight to $20,000.
According to the Galaxy digital CEO, bitcoin has got all the signs that it will hit $20,000 unless something goes terribly wrong of course.
This prediction was particularly influenced by the $2.2 trillion COVID-19 stimulus package which was signed by the United States government introduced by the Republican party. Furthermore, there is another proposal that could see the release of a $3 trillion HEROES act which would add a significant amount of value to the current movement of bitcoin.
Before we go any further though, please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
With institutions getting more and more interested in cryptocurrency, Novogratz said that this is a good indicator for the price of bitcoin going up.
Even Grayscale investment admitted that $1 billion of its total monetary inflow from many institutional investors went straight into crypto products in the second quarter of this year. Overall, this would represent around 84% of the total info.