Novogratz predicted the bitcoin price could drop back to around $80,000 per bitcoin but said he didn't expect it to fall under this level— where it was trading ahead of Trump's presidential election victory that signaled a "paradigm shift" for crypto regulation.

After the price of bitcoin surged from approximately US$69,000 (£54,000) the day before the election on November 5 to nearly US$100,000 now. Bitcoiners are keeping their eyes focused on what happens next in US politics.

Bitcoin came within a whisker of closing above $100,000 for the first time on Thursday as the election of Republican Donald Trump as U.S. president spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies.