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Galaxy Digital founder: Bitcoin is expected to see a correction, and there is currently a lot of leverage in the crypto market

On November 21st, according to CNBC, Michael Novogratz, founder and CEO of Galaxy Digital, expressed his views on Bitcoin. He said that Bitcoin is expected to break through the high-profile $100,000 mark in the strong rally after the US election, but this does not mean that it will continue to rise. Novogratz pointed out on the "Financial Forum" program that although the bitcoin price reaches six figures is "inevitable" and may continue to rise, it will eventually pull back. He stressed that there is a lot of leverage in the cryptocurrency market at present, and the crypto community is already highly leveraged, so the market correction is coming. However, Novogratz predicts that Bitcoin will not fall below $80,000, the price it was at before Trump's election. He also warns that stocks like MicroStrategy, which trade with leverage similar to Bitcoin, could face a bigger correction. In addition, Novogratz advises investors to buy Bitcoin directly, rather than companies like MicroStrategy.