Mike Novogratz, the founder of Galaxy Digital (a company selling cryptocurrencies to institutional clients), believes that the bitcoin price will stabilize between $10,000 and $14,000, he says in an interview with CNBC.
The statement comes after yesterday’s downturn when bitcoin fell $2,000 as the crypto exchange Coinbase crashed.
Facebook’s libra leads to stabilization
The big reason Mike Novogratz believes that bitcoin will stabilize is Facebook’s entry into the crypto market, Cointelegraph reports.
“One of the largest companies in the world said we believe in cryptocurrencies. If you’re an institutional investor who’s getting close and still worried about investing, it makes you that much more confident”, he tells CNBC.
The question is whether bitcoin will go even higher. Trijo News has previously reported that some analysts believe it can go as high as $100,000.
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