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

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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 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…

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