{"id":55918,"date":"2019-08-29T14:00:14","date_gmt":"2019-08-29T12:00:14","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=55918"},"modified":"2019-08-29T11:41:59","modified_gmt":"2019-08-29T09:41:59","slug":"this-investor-bitcoin-headed-20000","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/this-investor-bitcoin-headed-20000\/","title":{"rendered":"Why This Investor Thinks Bitcoin (BTC) Is Headed to $20,000"},"content":{"rendered":"\n
Bitcoin has been absolutely slammed over the past day. According to Coin Market Cap data, the cryptocurrency has shed some 7% in the past 24 hours, while altcoins have fallen by a similar amount.<\/p>\n\n\n\n
Despite this bearish price action, which some analysts say is the start of yet another nasty downturn in this nascent market, some remain unfazed. One of these troopers is Michael Novogratz, formerly of Goldman Sachs and Fortress Financial. The current chief executive of Galaxy Digital recently explained in an interview that he expects for Bitcoin to head higher once again, shaking off the lull and the recent collapse in the price of the leading crypto asset \u2014 Bitcoin.<\/p>\n\n\n\n
Speaking to Bloomberg<\/a>, the former institutional investor stated that he believes that institutions are finally starting to enter into the cryptocurrency game, and will thus drive up the price of Bitcoin. Like many others in the industry, he believes that this class of investors will bring in monumental levels of capital to this space, outpacing any retail investors that came before them. <\/p>\n\n\n\n But what will institutions bring the Bitcoin price to? You might be asking.<\/p>\n\n\n\n