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  • Novogratz believes current uptrend is just the beginning of the bull rally that will hit $20,000.
  • Roubini says that Bitcoin is still the “mother and father of all bubbles and busts.”

The founder and CEO of Galaxy Digital Mike Novogratz while speaking to CNN Business at the recently concluded SALT Conference held in Las Vegas that Bitcoin has just kick-started its recovery. He added that this is just the beginning and that the crypto community can look forward to the leading digital asset to triple its value and hit the highs around $20,000 by 2021.

Mike Novogratz believes that Bitcoin had already hit a bottom when it hit lows close to $3,000. He reckoned “out of the rubble, bitcoin has popped back up.” He also said that as long as nothing too devastating occurs in terms of regulations, Bitcoin has the potential to sustain the current surge.

The Billionaire advised cryptocurrency exchanges to concentrate in self-regulating to beef up security and encourage investor confidence in Bitcoin noting that even “a little bit of guardrails can go a long way”.

Although Novogratz remains bullish on Bitcoin, other experts like New York University professor Nouriel “Dr. Doom” Roubini are not convinced. Roubini says that Bitcoin is still the “mother and father of all bubbles and busts.”