Galaxy Digital CEO Mike Novogratz believes that 2020 will be the year of bitcoin.The coronavirus pandemic and the resulting collapse of financial markets suggest that this year the world will experience an even more serious financial crisis than in 2008.
“Bitcoin will continue to be volatile over the next few months but the macro backdrop is WHY it was created. This will be and needs to be BTC’s year,” he tweeted this week.
In a recent conversation with Anthony Pompliano, Novogratz said that a global recession will slow the spread of cryptocurrencies by 12-18 months. He noted that due to the unfavorable economic situation, traders have to sell crypto assets that they would otherwise hold for the long term.
As a reminder, last December, Novogratz predicted that Bitcoin could hit $12,000 in 2020 as markets recover from fresh suppression. Mike Novogratz is considered to be a successful crypto investor, who is holding this line. However, sometimes he refuses his previous statements.