Hey ninja’s, how’s the trading going? The largest cryptocurrency Bitcoin has once fallen below $10,000 breaking its uptrend. At press time, BTC is down 4.24% with the majority of the top 20 cryptocurrencies reporting moderate losses on the day. Ethereum is down 5.38% and trading at $266, XRP is also down 7.61% and is trading at $0.31 at press time.
Mike Novogratz believes that Bitcoin has the “potential” to surpass its all-time high of $20,000 after May block reward halving. In an interview with CNBC, the CEO of Galaxy Digital crypto merchant bank stated that BTC is the “best brand of the past eleven years”, also adding that BTC will once again trade at $20,000 in 2020.
He explained that BTC currently feels “frenzied” but he believes by the end of the year Bitcoin will reach new highs or at least reach its former high.
He noted that Bitcoin has reported 45_ gains from its year-to-date and even though altcoins are currently beating Bitcoin in returns since the first of January, he explained that Bitcoin has its own lane as a store of value-adding that BTC market cap has surged over $200 billion after only been released eleven years ago.