Bitcoin in Stasis as Crypto Bull Mike Novogratz Warns of Market Washout

in markert •  4 years ago 

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Bitcoin sits still near $62,500 and well within Wednesday’s price range amid concerns of a broader market pullback in the wake of Coinbase listing on Nasdaq.

“I’ve seen a lot of weird coins like dogecoin and even XRP have huge retail spikes, which means there’s a lot of frenzy right now,” bitcoin bull and CEO of Galaxy Digital Mike Novogratz told MarketWatch. “That never ends well, and so we’ll probably have a washout at one point.”

The U.S.-based cryptocurrency exchange Coinbase’s shares (COIN) went live on Nasdaq on Wednesday, rising as high as $429.54 before closing the day at $328.

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