Forex and Crypto News

Bitcoin will ever return to $5000

12:57 02 August /2019

Bitcoin price again returned to above $10,000, which should reassure billionaire and founder of the cryptocurrency company Galaxy Digital, Mike Novogratz, who admitted yesterday that he would be worried about falling Bitcoin prices below $8500 if a short-term downtrend continues, and closing below $6000 will make it “very nervous."

Will Bitcoin ever return to $5,000? I do not think so. I think that if it drops below $8500, I’ll start to get nervous. If it drops below $6,000, I will be very nervous.

A month ago, Novogratz admitted that he sold part of his Bitcoins at about $14,000, that is, at the peak of this year's local maximum. However, some users have criticized Novogratz’s statement:

Nervous about what? If you are a pre-term investor, you will want to take advantage of the sale in the market. Nervous? It makes no sense. It was necessary to be nervous when the price recently went straight up. This guy is the other way around.

Regarding the potential ban on Bitcoin, Novogratz believes that the governments of the United States and Europe have not been considering this option for a long time. He added:

KYC/AML are strictly enforced in the USA and Europe. The good news is that there are a lot of institutional investors coming into the industry, which will significantly increase the confidence of other players in this market.

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According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

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