Mike Novogratz, an influential figure in the cryptocurrency world and CEO of Galaxy Investment Partners, recently expressed skepticism about Bitcoin’s (CRYPTO: BTC) ability to sustain its recent surge in value. He anticipates a period of volatility ahead.
What Happened: On Tuesday, Novogratz, a staunch Bitcoin advocate, posted about the cryptocurrency’s recent monumental rise on X, formerly Twitter. He doubted the Bitcoin rally could maintain its momentum after rallying 350% to a three-year high.
Well that was fun🤔 Not!! I can't find one chart in the universe where a market rallies 350% to a 3 year old high and takes it out on the first try. I believe we end the year much higher but now we will chop around. Be safe!! — Mike Novogratz (@novogratz) March 5, 2024
On the same day, Bitcoin had soared to a new all-time high of $69,170.63, surpassing its previous peak of $68,789.63. However, the ...