Abstract: Mike Novograz, chief executive of Galaxy Digital (Galaxy Digital), an cryptocurrency bank attending a SALT conference in Las Vegas, reiterated his optimism for Bitcoin in an interview with CNN, Bloomberg and other media. He believes Bitcoin will return to its peak of $20,000 within the next 18 months.
In an interview with CNN, Novogratz said the upward trend in cryptocurrency is only just beginning, and there is more room. He believes that after breaking through $6000, the next target for Bitcoin will be $10, 000. "$6000 could be a resistance level," he said. But when we break through $6000, the next target will be $10, 000. I would be very happy if I could break through $10,000 by the end of the year. "
In the long run, Novogratz believes Bitcoin is likely to hit an all-time high in less than two years. "in a broad sense, we should be able to get back to our peak of $20, 000 in the next 18 months," he said. "
For other cryptocurrencies, he said, they may not rebound with bitcoin. "Ethernet coins and Ripple, among others, have to prove themselves through applications. This means getting people into their communities, having developers and programmers, and finding their own value. "
Novogratz dismissed the impact of yesterday's hacker attack on Bitcoin prices on the cryptocurrency exchange, saying that "the market can digest bad news in a bull market." We are in the midst of a bull market at the moment. "
"it won, not as a currency, but as a storage tool," he said in an interview with Bloomberg. And all other cryptocurrencies, like the elements in the periodic table, must prove themselves and get their value by letting people use them. According to Novogratz, it doesn't matter whether Bitcoin will be widely used to pay, because it's digital gold. He said,
"you can't buy anything with gold. What did you buy with gold in your life? No. Maybe you'll get a gold coin and keep it. Bitcoin can also store value. The Incas and Aztecs believed that gold came from God. This is why gold is used to store value. "
"this has nothing to do with the code. We can all get bitcoin codes, and we can issue coins right away, but they're worthless. But Bitcoin is worth $100 billion, and it is the social structure that makes it valuable. This is hard to repeat. "