Bitcoin will stay in $3,000 - $6,000 range - Mike Novogratz
|- Former Goldman's expert is cautiously optimistic about Bitcoin.
- BTC/USD is poised for the strongest weekly growth since July.
As cryptocurrency market is recovering, some hardcore bulls confirm their positive forecasts on digital assets. Thus, Michael Novogratz, the head of cryptocurrency merchant bank Galaxy Digital Holdings Ltd believes that Bitcoin will survive this bubble and come out even stronger as a store of value.
“This is a mania built on something real. I am certain we will have a digital store of wealth. I think it will be Bitcoin,” he said in a recent interview with Bloomberg TV.
Meanwhile, the expert refrained from overly optimistic price forecasts. Commenting on BTC/USD price levels, he said that was likely to stay in $3,000 - $6,000 range in the foreseeable future.
This moderate optimism contrasts with expectations of some other crypto gurus. Thus, Tom Lee from Fundstrat said that Bitcoin's fair price was somewhere between $13,800 and $14,800. Bitcoin’s co-founder at Satoshi School, Joerg Molt waits for BTC closer to $20,000 by the end of the year.
BTC/USD is trading at $3,753 with critical short-term resistance $3,800 within reach. The coin has gained over 16% since the beginning of the week in the most robust rally since the end of July.
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