Mike

2024

Bitcoin

<ul> 
 <li aria-level="1">Novogratz highlights inevitable corrections due to community leverage, yet remains confident Bitcoin won’t fall below $80,000.</li> 
 <li aria-level="1">Samson Mow emphasizes the fading opportunity to buy Bitcoin under $100,000, predicts rapid price acceleration soon.</li> 
</ul> 
Bitcoin (BTC) price predictions are escalating to unprecedented levels. Mike Novogratz, a noted cryptocurrency billionaire and the head of <a href="https://www.ethnews.com/bitcoins-cosmic-journey-experts-10m-prediction-lights-up-crypto-galaxy/">Galaxy Digital</a>, recently voiced his expectations on social media that Bitcoin could climb “much higher” than its current levels, suggesting that $100,000 might merely be the beginning for the dominant cryptocurrency. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Bitcoin nearing $100K is just the start. With pro-crypto leadership, global demand from the Middle East, and limited supply, the stage is set for much higher prices. We’re in price discovery now. That said, there’s massive leverage in the system. The crypto community is levered… <a href="https://t.co/hoVcM0lsfD">https://t.co/hoVcM0lsfD</a> 
 — Mike Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1859625723960414340?ref_src=twsrc%5Etfw">November 21, 2024</a>
</blockquote> 
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This optimism stems from a blend of pro-crypto leadership, burgeoning global demand, particularly from the Middle East, and Bitcoin’s inherently limited supply. These factors, according to Novogratz, set the stage for significantly higher valuations.&nbsp; 
His views were further elaborated during a CNBC interview where he remarked that reaching the $100,000 mark was “almost inevitable,” citing the momentum of markets to achieve such psychologically significant targets. 
Despite this <a href="https://www.ethnews.com/adam-back-predicts-a-seven-figure-bitcoin-price-if-the-u-s-strategic-reserve-materializes-boosting-global-fomo/">bullish outlook</a>, Novogratz also cautioned about the potential for a <a href="https://www.ethnews.com/bitcoin-bubble-about-to-burst-heres-why-experts-are-screaming-sell/">price correction</a>, given the high leverage within the crypto community. He noted the inevitability of such adjustments, especially considering the speculative nature of current investments, including those in ETF products linked to companies like MicroStrategy. These products, which offer amplified exposure, might pose risks if the market turns. 
<blockquote>
 “The crypto community is levered to the gills, and a correction is inevitable,” he added.
</blockquote> 
Supporting Novogratz’s views, <a href="https://x.com/Excellion/status/1859478750972477951">Samson Mow</a>, a prominent Bitcoin advocate and CEO at JAN3, highlighted the narrowing window for purchasing Bitcoin under $100,000.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 You can still buy <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> for less than $0.10M. 
 — Samson Mow (@Excellion) <a href="https://twitter.com/Excellion/status/1859478750972477951?ref_src=twsrc%5Etfw">November 21, 2024</a>
</blockquote> 
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He suggested that once Bitcoin surpasses this threshold, the price escalation could accelerate, potentially reaching up to $1 million. Mow attributes this forecast to a ‘supply shock’ post-Bitcoin halving in April and an impending ‘demand shock’ he anticipates will follow. 
Moreover, the recent activity in the blockchain has captivated the crypto community’s attention. A notable transaction involving the transfer of 12,899 Bitcoin, valued at approximately $1.2 billion, was recorded by <a href="https://x.com/whale_alert/status/1859260543279747450">Whale Alert</a>.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 12,899 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (1,221,514,492 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/GwoOckqAwp">https://t.co/GwoOckqAwp</a>: 
 — Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1859260543279747450?ref_src=twsrc%5Etfw">November 20, 2024</a>
</blockquote> 
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This massive movement, suspected to be between cold wallets of a crypto exchange, underscores the significant capital and interest still flowing in the cryptocurrency markets. 
As Bitcoin continues to flirt with the $100,000 mark, the discussions and speculations within the crypto community are likely to intensify, mirroring the sentiments of leading figures like Novogratz and Mow. 

<div class="cryptoboxes" id="mcw-12344" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Bitcoin (BTC) is currently trading at $97,112 USD, showing a daily gain of 2.90%, reflecting strong bullish momentum. Over the past week, Bitcoin has risen by 7.30%, and on a monthly basis, it has achieved an impressive growth of 44.19%.&nbsp; 
Year-to-date, Bitcoin has surged by a remarkable 129.78%, underscoring its role as the dominant cryptocurrency in the market and highlighting renewed confidence from both retail and institutional investors. 
<figure id="attachment_106791" aria-describedby="caption-attachment-106791" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="size-full wp-image-106791" src="https://www.ethnews.com/wp-content/uploads/2024/11/BTCUSD_2024-11-21_13-33-16.png" alt="BTCUSD_2024-11-21_13-33-16" width="1655" height="959">
 <figcaption id="caption-attachment-106791" class="wp-caption-text">
 Source: tradingview
 </figcaption>
</figure> 
From a technical perspective, Bitcoin is approaching the key psychological milestone of $100,000 USD, a level that could act as a significant resistance.&nbsp; 
Breaking above this threshold may pave the way for a rally toward higher targets, such as $120,000 – $130,000 USD. Conversely, immediate support is identified around $90,000 USD, providing a cushion against potential corrections. 
The post <a href="https://www.ethnews.com/crypto-billionaire-warns-of-inevitable-bitcoin-correction-amid-record-highs/">Crypto Billionaire Warns of Inevitable Bitcoin Correction Amid Record Highs</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Crypto Billionaire Warns of Inevitable Bitcoin Correction Amid Record Highs

ETHNews

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