Mike Novogratz: Bitcoin Will Not Fall to $13K

Mike Novogratz, CEO of Galaxy Digital, said in mid-June that Bitcoin should hold around $20,000.

He was right with his prediction, as the asset has actually bounced back after falling, gaining another 13%.

Mike Novogratz has ruled out in an interview with CNBC that BTC could collapse to $13,000. According to him, the return of turbulence to the market is due to the collapse of hedge fund Three Arrows Capital and liquidity problems at some crypto companies.

He believes that volatility has been exacerbated by the high leverage used in the crypto sphere.

According to him, the lion’s share of borrowed funds has already been withdrawn from the system. However, the aggressive growth of Bitcoin is unlikely in the near future.