PANews reported on November 21 that according to CNBC, Galaxy Digital founder and CEO Michael Novogratz expressed his views on Bitcoin. He said that Bitcoin is expected to break through the much-anticipated $100,000 mark in the strong rebound after the US election, but this does not mean that it will continue to rise. Novogratz pointed out in the "Financial Forum" program that although it is "inevitable" for Bitcoin prices to reach six figures and may continue to rise, it will eventually pull back. He emphasized that there is a lot of leverage in the current cryptocurrency market, and the crypto community is already highly leveraged, so a market correction is coming.
However, Novogratz predicts that Bitcoin will not fall below $80,000, the level before Trump's election. He also warned that stocks like MicroStrategy, which trade in a similar way to leveraged Bitcoin, may face a bigger correction. In addition, Novogratz recommends that investors buy Bitcoin directly instead of companies like MicroStrategy.
