Despite its struggles in late May, last month was very positive for Bitcoin. The digital currency increased it value by over 60%, scoring its fourth consecutive monthly gain.
As Bloomberg reported last week, billionaire investor and cryptocurrency bull Mike Novogratz recently predicted that BTC would consolidate somewhere in the $7,000-$10,000 range. However, he didn’t dismiss completely the possibility of BTC going even higher.
“If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through,” Novogratz, who is chief executive officer of Galaxy Digital Holdings, said on a conference call on Thursday.
In today’s trading, the Bitcoin price stood at $8,516.05, as of 11:19 BST. The digital coin has lost 2.5% of its value, Coinmarketcap data shows. The coin’s total market capitalisation currently stands at just over $151 billion, which represents 55.8% of the combined value of all digital coins.
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