• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
Bitcoin back to $10K says Mike Novogratz

Bitcoin Price Can Target $10K After Bakkt Custody Launch: Novogratz

Anja van Oosterhout
by Anja van Oosterhout
6 years ago
·
Posted in News, Bitcoin, Bitcoin Investment, Bitcoin News, Bitcoin Price, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A major Bitcoin proponent is hoping the current price downturn will not take it under $6500 – and that new institutional investors will trigger a U-turn.


Novogratz: Custody Should Fuel Bitcoin Comeback

In an interview with CNBC on October 24, serial investor Mike Novogratz weighed the options for where Bitcoin was heading. 

The largest cryptocurrency saw another split-second drop this week, falling $500 in around five minutes on Wednesday and staying at around $7500 ever since.

“I’m hoping it holds here, but $6500 would be the next downside to knock,” he told the network’s Squawk Box segment.

Novogratz has revealed he is working on a new custody solution for institutional investors worried about the pitfalls of cryptocurrency ownership. 

Despite criticism from some that trusting third parties to secure coins undermines the ethos of having crypto altogether, making bitcoin custody easier has become a preoccupation for industry businesses.

For Novogratz, the issue is key to improving Bitcoin’s appeal among the institutional segment. As such, new offerings, including that from Bakkt, should aid a price reversal.

“I think you’ve got to get back through $8200 first… we’re then back in the $8000 – $10,000 range. It’s going to need new energy to really make the big move,” he continued. 

Some exciting things are happening… Bakkt just got set up, there’s a futures exchange that’s starting to gain some volume. But more importantly they’ve got a custody solution that’s just coming online… world-class custody which allows more and more people to feel comfortable with it.

Broad Consensus On $6.5K Bottom

Bakkt’s futures product in fact gained somewhat negative press attention when it launched after much delay in September. As Bitcoinist reported, the debut was followed by another price dip, this time from near $10,000 to $8000.

At the time, Bakkt was unapologetic about the idea its futures may have contributed to selling pressure. According to executives, they were aiding price discovery. 

Novogratz’s estimate of a $6500 floor meanwhile chimes with some of the most popular theories about the Bitcoin price’s short-term moves.

In particular, the historically accurate Stock-to-Flow model also suggests $6500 will act as bottom support. An average price of $8200 is expected until next May’s Bitcoin block reward halving, it says, whereupon a new bullish phase should begin. 

Regardless of factors such as institutional activity, Stock-to-Flow further forecasts that by around 2022, BTC/USD should trade above $100,000.

What do you think about Mike Novogratz’s predictions? Let us know in the comments below!


Images via Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anja van Oosterhout

Anja van Oosterhout

Follow

Full Profile

Related Posts

Bitcoin

Bitcoin Accumulator Capital B The Most Underrated BTC Treasury – Here’s Why

2 hours ago
Bitcoin price

Is Bitcoin Price Going To $30,000? Bearish Indicator Suggests Possible 70% Decline

9 hours ago
Bitcoin

Analyst Says Wait For The Bitcoin Price Crack To Trigger A 70% Crash – Here’s The Target

21 hours ago
Crypto whales kopen 45.000 Bitcoins - $200k BTC koers mogelijk in Q4 2025

Crypto whales kopen 45.000 Bitcoins – $200k BTC koers mogelijk in Q4 2025

22 hours ago
crypto

Trump Says Crypto Could Pay $38 Trillion US Debt – How High Must Bitcoin Go?

1 day ago
bitcoin price btc btcusd

Bitcoin Reclaims $110K Amid Institutional Support, But Tom Lee Warns of a Potential BTC 50% Drop

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Snorter Bot...

    2 days ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    4 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    4 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    4 days ago
  • 挖 1 枚比特幣耗電可供 61...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.