The founder of Galaxy Digital claims that Bitcoin will grow in the years to come

Galaxy Digital Founder Mike Novogratz says Bitcoin (BTC) will increase significantly in the coming years, exceeding the record value of 2017. The statements were made in an interview with Bloomberg on July 3.

Consolidation in the range of $ 10-14,000

The Bitcoin price went up to close to $ 14,000 in June, and then recorded a correction of up to $ 10,000. BTC is currently trading at around $ 11,700.

Novogratz argues that this evolution was to be expected, given the evolution of historical bitterness. He predicted that the market will achieve consolidation in the range of $ 10-14,000 before entering a new upward trend.

Buy Bitcoin at best price

“I think next time we will get closer to $ 20,000. I do not expect this to happen in the coming weeks. Rather in the middle or the end of the fourth quarter of 2019. “

In the longer term, Novogratz argued that Bitcoin has created a niche as a form of digital gold. It is expected to reach a value of $ 40,000 and potentially much longer over time.

Altcoins compete

Novogratz compared Bitcoin’s potential with other coins such as ether (ETH) and XRP. He pointed out that the rest of the cryptomonads compete with each other. They also need more time to be remarked.

Such projects still work on their own technology – in the case of Ethereum, for example, to become a “decentralized supercomputer 3.0”. The founder of Galaxy Digital forecasted that it took another two or three years to see real growth in the sphere.

In the Bloomberg interview, Novogratz underlined that regulators, especially the US, have been left behind by technology. Projects such as the Libra will force them to quickly become aware of the need for clear laws on the cryptomonas industry.