As cryptocurrency markets have been edging up over the past two weeks amid multiple sell-offs on the mainstream market, the crypto community has become even more bullish on the price of the major cryptocurrency, Bitcoin (BTC).
Mike Novogratz, CEO of crypto merchant bank Galaxy Digital and a well-known Bitcoin bull, has once again reiterated his bullish stance to the biggest cryptocurrency, predicting that Bitcoin should retest its $20,000 highs by the end of 2020.
In an April 2 interview with CNBC’s Closing Bell, Novogratz also expressed his confidence that Bitcoin’s price should at least double before October 2020.
While Novogratz delivered yet another bullish prediction for Bitcoin, this time, the prominent crypto advocate admitted that he might give up on Bitcoin if its price does not hit a new all-time high in 2020:
“This is the year of Bitcoin and if it doesn’t go up now by the end of the year, I might just hang my spurs.”
Novogratz’s new Bitcoin prediction comes amid some recovery on crypto markets as Bitcoin rallied up to $7,200 on April 2 after dropping to as low as $3,600 earlier in March. As of press time, Bitcoin is trading at $6,989, up over 4.6% over the past 24 hours at press time, according to Coin360.
This is not the first time that Novogratz made an optimistic prediction about Bitcoin. In fact, Novogratz is known for making some inaccurate Bitcoin price forecasts alongside major industry bulls like Tim Draper and John McAfee.
Last year, the Galaxy Digital CEO argued that institutional interest would push the Bitcoin price back to $20,000 before the end of 2019.