Former hedge fund billionaire Michael Novogratz advocates a bitcoin price of $ 20,000 by the end of 2020. We explain his analysis: Bitcoin has skyrocketed in the past few days, leaving months of inactivity behind, and creating pure excitement for Bitcoin investors around the world. BTC rose nearly 20% in less than a week, peaking just over $ 11,400 on Monday night before falling slightly.
Despite all of this, the Bitcoin price is still only about halfway to its all-time high of late 2017
Michael Novogratz, a former hedge fund billionaire and now crypto investor, firmly expects the Bitcoin price to reach $ 20,000 by the end of the year – driven by diverse global “liquidity pumps” and a growing influx of private investors.“The influx of liquid [various central banks] will not subside. We’re going to get a lot of stimulation, ”.
Novogratz, founder and CEO of Bitcoin and crypto trading bank Galaxy Digital, told CNBC, adding,” It doesn’t look like the Federal Reserve is going to increase rates. “Quite the contrary: Republican U.S. lawmakers unveiled plans on Monday for another $ 1 trillion stimulus package that includes another round of $ 1,200 per citizen payments and additional funds for small business loans. However, US investors drove the stock market down as the markets prepared for a longer negotiation phase between Democrats and Republicans.