Mike Novogratz Thinks Bitcoin Can Hold Above $20,000

by in Cryptocurrency News


Many experts look at the $20,000 mark as an important psychological level for bitcoin.

Related: Arthur Hayes does not rule out a stronger fall in BTC and ETH

For example, Arthur Hayes, the founder of the BitMEX exchange, tweeted earlier this week that if BTC falls below $20,000, then we are in for a deeper dive into the leading digital currency.

Galaxy Digital CEO Mike Novogratz spoke at the Morgan Stanley Financials conference and said that Bitcoin should hold above $20,000. The stock market, by contrast, has not yet found the bottom and will continue to retreat in the coming days.

According to the forecasts of the billionaire, the ether should stay above $1000. Even if the Federal Reserve decides today to raise the discount rate, investors will still support the largest digital currencies if there are risks of their fall.

As soon as the situation in the economy stabilizes, and the Fed stops raising rates, then the capital is about to return to the shares of IT companies and the cryptosphere, Novogratz believes.

On Wednesday, June 15, Bitcoin and Ethereum are trading at $20,306 and $1,041, respectively. Over the past 24 hours, the value of the largest digital currencies has decreased by more than 10%.