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Will BTC ever go back to $5000? Michael Novogratz gets real about it

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Vineet Chaudhary
Vineet Chaudhary
Vineet Chaudhary is a content writer with computer applications as his background field. His interests range from writing and photography to going out for trips and rides on weekends.

The fluctuating prices of Bitcoin leave everyone wondering what will happen next and what their next move should be. A similar reaction was seen from the billionaire hedge fund manager of the investment firm Fortress Investment Group, Michael Novogratz.

In a recent morning show with Squawk Box on CNBC, he told that most of his investments are in Bitcoin and lesser are in gold. And when asked the famous question of “Will BTC ever go back to $5000?”, the reaction he gave is something that every investor can relate to. He responds that he gets nervous when the price hits $8500 and if it goes down to $6000, he’ll be very nervous.

Here is the reaction,

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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