Mike Novogratz reveals why the Bitcoin price is surging


Bitcoin has finally broken the $10k resistance. The coin traded more than 7% jump prior to the move. At present the coin is trading at $10,116.51 with $38,319,060,095 24 hour volume and 18,391,943 BTC circulating supply.  If these price levels turn into support, then BTC could be on its way to $12,500. 


On June 1, the BTC price skyrocketed to $10,429 on the Bitstamp exchange before shedding some of its gains.

Galaxy Digital co-founder and CEO Mike Novogratz expects more upside

Mike Novogratz, the head of crypto bank Galaxy Digital, says that Bitcoiners should keep a close eye on the gold vs. BTC chart. Just before this explosive surge higher, he noted that Bitcoin was “coiling” and was poised to “take out $10,000 soon.”

 Novogratz explained that with government balances skewing in favor of debt, there is a narrative rapidly forming that could boost Bitcoin. This echoes the lines of Tesla CEO Elon Musk and billionaire hedge fund manager Paul Tudor Jones, who said that the increase in government spending and debt make BTC look good.

Novogratz believes that prices will “move fast” now that $10,000 has been taken out, presumably referencing the importance of the $10,000 resistance.

Also read Mike Novogratz Explains Why 2020 will Be Bitcoin’s Year

BTC price could rocket all the way to $15,000 – Max Keiser

In the meantime, RT host Max Keiser suggests that the BTC price could rocket all the way to $15,000 on growing speculations that U.S. President Trump could impose martial law following his address.  

Also read No Coin is as Secure and Dominant as Bitcoin – Max Keiser

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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