Billionaire Bitcoin Investor lists 3 catalysts that could send Bitcoin flying! The billionaire Bitcoin investor is Mike Novogratz – and these are his 3 catalysts that could send the price of Bitcoin soaring!
Mike Novogratz, a well known Wall Street name who used to be a partner at Goldman Sachs, now heads Galaxy Digital, a crypto fund. He conveyed these catalysts in a recent interview with Bloomberg, though he was hesitant to give a price prediction on the air.
Mike is, undoubtedly, bullish on Bitcoin. His optimism wasn’t unwarranted however. Here are his reasons why:
- The Debasement of Fiat Money. Novogratz mentioned that the amount of liquidity in capital markets encouraged by low interest rates should help Bitcoin as well as Gold. The idea is that eventual inflation caused by loose and lax central banks should provide a market and need for scarce assets like Bitcoin.
- Digital Gold: Novogratz has also suggested that Bitcoin is maturing into a form of digital gold. He specifically mentioned the brief Iran-US war fears and the ongoing coronavirus as evidence of the enduring resiliency of assets like Gold and Bitcoin.
- Bitcoin’s level of infrastructure is increasing. Novogratz says that the “plumbing” of the industry is improving – this will undoubtedly help boost Bitcoin. With Fidelity investments, Bakkt, and other service providers providing fiat onramps to Crypto, investment inflows could help correlate with higher prices.
Those aren’t Novogratz’s only reasons – the technical factors are supporting Bitcoin bulls in the near future as well. Most commentators are bullish, seeing technical factors that are backing their opinion.
— Thomas Lee (@fundstrat) January 29, 2020
Financial Survivalism said in a recent analysis that BTC recently printed a chart pattern suggesting that its price will reach over $11,500 in the coming two or so weeks. We wait anxiously for this to occur! What do you think? Let us know on our Facebook page!