- The recent price drop from Bitcoin below $7k shocked much of the crypto community.
- The Galaxy Digital CEO, Mike Novogratz has been hit hard from the sell-off over the past week, turning his attention to what the catalyst could be for the leading cryptocurrency.
The recent price drop from Bitcoin below $7k shocked much of the crypto community, leaving some market participants curious and wondering what on earth happened!
In the months coming up to the anticipated bitcoin halving event, it is expected to be exciting, but bitcoin has once again expressed its volatile and unpredictable nature.
The Galaxy Digital CEO, Mike Novogratz has been hit hard from the sell-off over the past week, turning his attention to what the catalyst could be for the leading cryptocurrency.
As per CCN:
“Novogratz tipped his hand to how he is navigating the market and rather than making price predictions has described a fork in the road for the cryptocurrency. He is giving the BTC price until Wednesday to recover to $7,500, saying that if it fails to do so bitcoin will find itself in a prickly situation – stuck in a range of $6,000 at the low end and $7,400 at the high end. The last time Novogratz shared his outlook for the bitcoin price, he guided toward a range of $7,000 to $10,000 with potential for greater upside, which successfully proved to play out for months.”
$BTC chart needs to recover 7500 in next two days or we will be in a 6k-7400 range which would be less than pleasant. $BTC still up 95% on the year to keep perspective, but man, I liked it better above 10k😂.— Michael Novogratz (@novogratz) November 25, 2019
It will be interesting to see where Bitcoin goes from here. For more news on this and other crypto updates, keep it with CryptoDaily!