By CCN: Mike Novogratz’s expectation for bitcoin price consolidation is starting to look more feasible since BTC abruptly took a dive today. The high-profile trader believes bitcoin is poised for near-term consolidation to a narrow range despite recent market momentum. Novogratz, who is at the helm of crypto merchant bank Galaxy Digital, reportedly held a conference call today discussing his firm’s Q1 performance. According to Bloomberg, the Wall Street veteran believes that the bitcoin price “probably consolidates somewhere between $7,000 and $10,000,” adding: “You know, trees don’t grow to the sky. If I’m wrong on that, I think I’m wrong
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