Michael Novogratz – Founder of Galaxy Investment Partners has declared in an interview with Bloomberg Technology that the Bitcoin is in a roller-coaster ride after a spectacular rally from $ 3.000 few months ago to $ 13.000 last month and after a consolidation between $ 10.000 and $ 14.000 it and could reach $ 20.000 or higher could reach $ 40.000 when the investment banks will enter the crypto.
He recognizes that the participation of Facebook, Visa, Microsoft and Uber in the crypto and blockchain world gave legitimacy and lead to the Bitcoin’s rise towards $ 14.000 but do not forecast another high rise until mid-end of fourth quarter.
He considers crypto will become an important part of the financial world ecosystem and that the US regulations are far behind and will not change soon.