The well-known bitcoin supporter says bitcoin "needs to rally this year."
"If at the end of the year Bitcoin’s not a lot higher, I’m going to scratch my head and say, 'Look, what the heck is going on?'," Novogratz added.
However, bitcoin is still struggling to regain back to its February highs and is still trading below the $6800 level of resistance.
At press time, BTC is trading at the $6663 mark.
Previously FxPro's team of analysts said that the crypto market is still at the levels reached yesterday. Over the past 24 hours, Bitcoin has risen by 3% and is currently trading around $6,700, close to the highs reached last week. Altcoins are seeing similar movements.
The reference crypto has not been able to overcome the $6,000 barrier as it is not enjoying the same recovery as the rest of traditional markets.
Earlier iHodl reported that the Japanese brokerage company Monex Group will pay shareholders additional remuneration for the fiscal year in bitcoins.
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