NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

This Billionaire Bitcoin Investor Gives 3 Catalysts That Could Send Price Flying

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has undoubtedly been on a tear over the past 45 or so days. Since hitting $6,400 in December, BTC has surged by almost 50%, hitting a local high of $9,550 on Thursday.

According to Mike Novogratz — a Wall Street name who used to be a partner at Goldman Sachs and now heads crypto fund Galaxy Digital — there is a confluence of reasons why Bitcoin will continue higher in the months to come.

He conveyed these reasons, or catalysts, in a recent interview with Bloomberg, though he was hesitant to give a BTC price prediction on air.

These Things Could Send Bitcoin Price Soaring In 2020

On January 30th, Mike Novogratz, a Wall Streeter-turned-Bitcoin bull, sat down with Bloomberg to talk Tesla, stocks, and BTC. Unsurprisingly, he was bullish on the leading cryptocurrency.

His optimism wasn’t unwarranted, though, as he cited an array of reasons why he expects Bitcoin to see price appreciation in the coming months and years. These reasons are as follows.

  1. The debasement of fiat money: Novogratz mentioned that the copious amount of liquidity in capital markets, encouraged by low interest rates the world over, and the seeming debasement of fiat money should help Bitcoin, gold too. The idea here is that the potential inflation caused by lax central banks should prove the value of scarce assets, like Bitcoin, whose inflation rate will be cut in half in a few months’ time. 
  2. Becoming digital gold: Novogratz suggested that Bitcoin’s maturing into a form of digital gold, a digital store of value investment, could support prices moving forward. He specifically cited the asset’s performance amidst the brief Iran-US war fears and the ongoing coronavirus outbreak. The Galaxy Digital CEO is suggesting that BTC is showing it has investment potential, which could help draw in investors with time.
  3. Increasing levels of infrastructure: The investor said that the increasing level of infrastructure in the crypto industry, which he dubbed the “plumbing” of the industry, could help boost Bitcoin. Indeed, there has long been a need for more robust crypto onramps. With the introduction of Fidelity Investments, Bakkt, and other service providers, BTC could see more investment inflows, correlating with higher prices.
Related Reading: Tesla is the Greatest Performing Asset In 2020. It Even Surpassed Bitcoin

Technical Factors Supportive of BTC, Too

It isn’t only the aforementioned fundamentals that may support Bitcoin bulls in the near future.

Over the past few weeks, NewsBTC has been chronicling Bitcoin price analyses from prominent commentators. Interestingly, the majority of the accurate commentators are bullish, citing technical factors that back the sentiment that an uptrend is rapidly forming.

Fundstrat Global Advisors — a market research firm that has fallen down the crypto rabbit hole — noted in a recent note that the leading cryptocurrency has crossed above the 200-day moving average of its price.

This, they claim, is an extremely bullish sign indicating Bitcoin has entered back into a bull phase, for crossing above this technical level gives the cryptocurrency an 80% six-month forward win rate.

Bitcoin moved back above its 200-day moving average on 1/27… positive milestone and reinforcing 2020 shaping up to be great year for $BTC #bitcoin

– whenever BTC >200D, win-rate (6M forward) jumps to 80% and essentially "re-entering" bull market (>200D)#BTD #bestasset2020 pic.twitter.com/YbpQYHpLaj

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) January 29, 2020

Also, eerily accurate trader Financial Survivalism said in a recent analysis that BTC recently printed a chart pattern suggesting its price will reach over $11,500 in the coming two or so weeks.

Related Reading: Andrew Yang Just Mentioned Crypto, Again. He Says Bitcoin Can’t be Stopped
Featured Image from Shutterstock
Tweet123Share248ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Celebrating a Milestone: UXLINK Marks First TGE Anniversary and Three Years of Innovation, One-on-One with Rolland Saf, CEO of UXLINK

As of July, UXLINK celebrates nearly three years of pioneering development in Web3, alongside the first anniversary of its Token...

News BTC 3 hours ago
Bitcoin crash

Analyst Calls For Bitcoin Crash As Price Pulls Above $108,000 — Details

The past weekend was favorable for Bitcoin as the price was able to rebound from last week’s lows and go...

Scott Matherson 4 hours ago
solana

Solana Summer Loading? SOL Eyes $180 Following Staked ETF-Fueled Breakout

Solana (SOL) has retested a crucial resistance level after recovering the $150 level over the weekend. The surge, fueled by...

Rubmar Garcia 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Strategy

Bitcoin Shopping Spree: Strategy Continues Accumulation With $530M Purchase

Ronaldo Marquez 1 hour ago

Labākās kriptovalūtas, ko iegādāties jūlijā – nākamie kriptovalūtas dārgakmeņi

lasma 1 hour ago
Ethereum price news

Ethereum Just Got Its MicroStrategy—Tom Lee Bets On Soaring ETH Price

Jake Simmons 3 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ|ビットコインがQ3に最高値を更新する前に注目すべき新興トークンとは

    ...

    39 minutes ago
  • UK-certified ETHRANSACTION Cloud Mining Launches Best Free...

    1 hour ago
  • Urmăriți în această săptămână memecoin-urile SOLAXY, BONK și POPCAT.

    4 Meme Coin Tiềm Năng Dưới 1 USD Có Thể Bùng Nổ...

    2 hours ago
  • καλύτερα κρυπτονομίσματα

    Presale Coin Mới Ra Mắt: Token6900 Có Phải Là Một...

    3 hours ago
  • Alt coin Tốt Nhất Để Mua

    Alt coin Tốt Nhất Để Mua: ChatGPT Dự Đoán...

    3 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.