Las Vegas (CNN Business) Bitcoin's recovery from last year's epic crash may have just begun.

Bitcoin bull Michael Novogratz told CNN Business that the crypto currency will triple over the next 18 months and return to its all-time high of nearly $20,000.

"Out of the rubble, bitcoin has popped back up," Novogratz said from the sidelines of the SALT Conference in Las Vegas.

The notoriously volatile cryptocurrency is currently worth around $6,000, surging up from $3,100 last December.

Novogratz, a former hedge fund manager and Goldman Sachs investment banker, doesn't believe bitcoin will return to those lows. The catch would be if there was a devastating hack against a crypto exchange or a sudden shift in regulation.