Head of Galaxy Digital: bitcoin will not fall below $40 thousand.

Mike Novogratz believes that the mark of $42 thousand, which the cryptocurrency reached on December 4, is the lower level of the current correction
Head of Galaxy Digital: bitcoin will not fall below $40 thousand.

Galaxy Digital CEO Mike Novogratz in an interview with CNBC expressed confidence that the price of bitcoin in the current correction will not fall below $40,000. According to Novogratz, the $42,000 mark is the lower level of corrective decline.

“We need to hold on to the $42k mark because it is the lower level of the correction. I would be very surprised if bitcoin fell below $40k”,Β said Novogratz.

On December 4, the price of bitcoin for the first time since the end of September fell to $42 thousand. Then the value of the asset collapsed by more than 20% overnight. This led to massive liquidations of traders’ positions worth over $2.5 billion. On December 8, bitcoin is trading at $50,900 and its capitalization stands at $962 billion, according to CoinGecko.

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The post was written by Crypto Expert John Belford

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