Mike Novogratz Predicts Bitcoin Rally to $8K, Plus XRP, Ethereum, Litecoin, Tron: Crypto Price Analysis

Billionaire crypto bull Mike Novogratz says the stage is “finally” set for institutions to jump into crypto.

Novogratz told Bloomberg a flow of new money in the space from platforms like Fidelity Digital Assets will set the stage for a Bitcoin rally to $8,000.

“Over the next six to 12 months you are going to see institutions put a small amount of their assets in digital currencies. A small amount of institutional assets is a lot of money.”

Novogratz says he expects to see a steady increase in investments from money managers, and predicts many will “want to see how it goes before committing capital.” His bullish outlook follows news that Morgan Creek Digital has successfully launched a new fund, raising $40 million from two public pensions, a university endowment, an insurance company, a hospital system and a private foundation.

Right now, the crypto markets are mixed according to the price tracker Coin360, with Bitcoin down 0.79% at $3,606.

Technical analysts are targeting Bitcoin’s next break and appear to be bullish on XRP and Ethereum in the short-term, with Tron looking decidedly more bearish.

Bitcoin

FXStreet – Bitcoin price reclaims $3,600 support: Eyes glued on $3,800

NewsBTC – BTC could accelerate gains above $3,650

Live Bitcoin News  – BTC looking for break above the $3,625 resistance area 

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XRP

Blockonomi – Support remains on dips, likely to break $0.3150 and $0.3160 resistance levels

FXStreet – XRP points to the upside as the next move

NewsBTC – XRP sighting bullish break in near term

Ethereum

ETHNews – Ether bracing for next break

Blockonomi – Bulls target fresh monthly highs

Ethereum World News – Price has a few resistance levels to clear

Litecoin

CoinDesk – Litecoin’s halving is months away, but traders may already be pricing it in

CryptoPotato – LTC established ascending price channel that started forming at start of December

Blokt – LTC tests January’s high multiple times, increasing the likelihood that it will break below

Tron

Invest in Blockchain – Can bulls reverse the recently-established bearish momentum?

Blokt – TRX/USD has broken down from a short-term triangle pattern

CryptoGlobe – Short-term outlook in bullish trend, medium-term is in a range-bound market

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.