Bitcoin may soon recover from its recent lows and hit $12,000 during 2020. This is at least if one is to believe the latest prediction from Mike Novogratz, the co-founder of the crypto merchant bank Galaxy Digital.
Novogratz believes Bitcoin will cross a $12,000 price in 2020
Specifically, the well-known Bitcoin advocate recently sent out a new year prediction tweet. Moreover, the 2020 prediction tweet touches on a number of different topics.
Although Novogratz naturally made a Bitcoin prediction – as he has done numerous times – he also threw in a political prediction, with a cryptocurrency twist. The entire tweet read as follows:
”2020 prediction #1. @realDonaldTrump loses by more than 10mm votes. #2 $btc finishes over 12k. #3. @USAWrestling wins 3 golds in Tokyo (MF). #4 @tomhanks wins the Oscar for Mr Rodgers. #5 @reform and it’s partners help shrink the ‘supervised’ population from 4.5mm to 4mm or <”
As for his Bitcoin prediction, this appears fairly straightforward. According to Novogratz, Bitcoin appears set to reach a price of $12,000 during the next year. Currently, Bitcoin is trading around a price of $7,420 – meaning this represents a roughly 60% upside.
Nevertheless, this prediction is actually one of the more conservative ones out there. For example, Ross Ulbricht recently made a Bitcoin price prediction for 2020 of his own. However, this one forecast a Bitcoin price of a whopping $100,000 sometime during next year.
Novogratz bets 1 ETH that Trump will not win the 2020 election
With that said, however, Novogratz has been known to be quite bullish of Bitcoin before. As such, it is possible that he is intentionally toning down his outlook on the premier crypto for 2020.
Additionally, yet another one of Novogratz’s 2020 predictions has a cryptocurrency angle to it. Although Novogratz predicts that the US president, Donald Trump, will lose the upcoming presidential election.
Novogratz is also saying that if he is wrong, and Trump wins the upcoming election, he will honor a bet made with a Twitter user. Specifically, if Trump wins, Novogratz says that the other Twitter user will win one unit of Ethereum, the largest altcoin.
As such, this bet is worth approximately $130 at the time of writing. Nonetheless, the fact that the bet has been made in Ethereum likely relates to Novogratz’s infatuation with cryptocurrencies. Notably, another crypto profile, Charles Hoskinson, also threw his five cents into the mix on this issue.
Hoskinson instead said that Trump will likely win a second term, telling Novogratz to have ”better luck in 2021” with his predictions. Time will tell whether Novogratz’s Bitcoin prediction, Trump prediction or perhaps both come true.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.