Mike Novogratz: I’m Not Selling Bitcoin at $14K Again – It’s Going Higher

In a story reported by Cointelegraph, summarizing an interview on Bloomberg, “Galaxy Digital founder and crypto enthusiast Mike Novogratz has predicted that bitcoin (BTC) still has a long way higher to go following its current ‘spectacular rally.’

“With BTC price circling the $11,000 at press time, Novogratz told Bloomberg TV on July 3 that the coin’s spike toward $14,000 and later downwards correction was to be expected as part of its historic moves. He predicts that the market will see consolidation around the $10,000- 14,000 mark for some time before current momentum enters its next leg and we go higher.

“’I don’t think I’m selling the next time we’re up to $14,000,’ he said. ‘I think the next time we get up there it’s closer to $20,000 […] I don’t expect that in the next few weeks, I don’t expect it till the middle or the end of the fourth quarter.’

“The crypto merchant bank pioneer said the cryptocurrency’s parabolic price moves have been driven by real reasons — pointing to Facebook’s entry into the space with Libra and the fact that payments giants such as Visa and Mastercard have joined the Libra consortium. He added:

“’The biggest companies in the world — we also had the investments by the Yale, Harvard and Stanford endowments. All of a sudden the question around institutionalisation has been answered.’”

Continue to see the full story on Cointelegraph, and watch the original interview here on Bloomberg.

Track the current price of Bitcoin, Ethereum, Ripple and altcoins here.