Galaxy CEO: Bitcoin breaking $100,000 is "inevitable" but a pullback is possible
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Odaily Planet Daily Report: Galaxy Digital founder and CEO Michael Novogratz stated that Bitcoin is expected to break through the closely watched $100,000 mark in the strong rebound after the US election, but this does not mean it will continue to rise. Although it is "inevitable" for Bitcoin prices to reach six figures and may continue to rise, it will eventually correct. There is currently a large amount of leverage in the cryptocurrency market, and the cryptocurrency community has become highly leveraged, so a market correction is imminent. In addition, Michael Novogratz also warned that stocks with trading methods similar to Bitcoin leverage trading, such as MicroStrategy, may face greater adjustments. (CNBC)
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