Galaxy’s Mike Novogratz Expects a Correction Before Bitcoin Rallies to Record
- Long-time trader says some retail investors may get wiped out
- Cautions that Bitcoin may weaken to mid-$50,000s amid rally
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Michael Novogratz is cautioning investors that Bitcoin may see some corrections before rallying to a record and ending the year “much higher.”
“I wouldn’t be surprised to see some corrections and some consolidation,” Novogratz, the founder and chief executive officer of Galaxy Digital Holdings Ltd., said during an interview on Bloomberg TV Thursday. “If it corrects, it might correct to the mid-$50,000s, before taking off to the new high.”