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Mike Novogratz | Bitcoin will reach $12K in 2020

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Mike Novogratz | Bitcoin will reach $12K in 2020

One of the best-known investors says Bitcoin (BTC) will reach $12,000 in 2020 when the markets recover from renewed dumping, said.

Mike Novogratz, co-founder of the cryptocurrency trading bank Galaxy Digital, made the remark “BTC finishes over $12k” as part of his New Year’s predictions in a tweet on December 28.

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Novogratz bets against Trump and for BTC

Long a supporter of Bitcoin, the entrepreneur also believed that the President of the United States, Donald Trump, would lose the upcoming presidential elections with at least 10 million votes.

Like the Cointelegraph reported, Trump is a critic of the crypto-currency and made public statements in July about the allegedly dubious nature of Bitcoin.

Novogratz added that if Trump were to win, he would honor a bet he made with another Twitter user worth a princely unit of the largest ALTCoin, Ethereum (ETH) – about $130.

How bullish is realy too bullish?

Novogratz had a mixed run when it comes to Bitcoin price forecasts for 2019. Throughout the year, he has set the mood to expect a continuation of the bullish performance.

In early May, when BTC/USD was trading at around $6,000, he said that he imagined the pair would cross the $20,000 mark a second time in the following eighteen months.

While the recent pledge appears to be dampening the enthusiasm, Novogratz does not believe alone that major changes will occur in the market next year.

As Cointelegraph noted, various technical metrics now suggest that Bitcoin has already begun a bullish shift – even if prices remain around $7,000.

Others have now refused to stop at a valuation of $12,000 at year-end. In early December, the infamous Bitcoin bull John McAfee again claimed that Bitcoin would be worth $1 million by 2021.

In an ironic twist, McAfee added that he would not spend as much time promoting cryptocurrency to run alongside Trump – although he claimed he had no chance of winning.

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