Galaxy Digital CEO Mike Novograts commented on the take-off of a bitcoin above $14,000.
On CNBC, the billionaire and one of the so-called „Bitcoin bulls“ said that we are at the very beginning of a new stage of strengthening the cryptographic currency.
The Bitcoin Rally started a few weeks after it fell to $9800. The bulls quickly found the bottom, after which the market rose again.
According to Novograts, the Bitcoin will end 2020 at a new high. The billionaire recalled that he had predicted the return of the bull trend a few months ago.
The conditions for the rapid growth of the BTC were laid down by the authorities of those countries that started printing money to stimulate the economy. Interest in the cryptovoltaic currency was growing even against the backdrop of hacker attacks on cryptovoltaic markets and regulatory repressions.
The strengthening of the bitcoin rate will continue if the Federal Reserve and other central banks periodically include a printing press and ‚fill‘ the market with fit money, Galaxy Digital’s CEO concluded.
Bitcoin is currently traded at $14,450. In the last 24 hours, the capitalisation of the crypt currency has increased by 5.5% to $268.599 billion.