Bitcoin will rise to $ 10,000 by the end of the year …
Bitcoin to rise to $ 10,000 by the end of the year – Mike Novogratz
Billionaire, trader and legendary hedge fund manager Mike Novogratz thinks bitcoin will reach $ 10,000 by the end of this year.
Former head of Fortress Novogratz gave his optimistic forecast in a conversation with Bloomberg. He explained that Bitcoin is valued for the same reasons as gold: scarcity, distrust of central banks, and social agreement..
Earlier, Novogratz stated that large financial companies are preparing to enter the bitcoin market. In October, he suggested that the Wall Street Herd would raise Bitcoin to $ 10,000 in 6 to 10 months. However, the bitcoin rate has already risen by about $ 3000 since this announcement, which forced the analyst to revise his forecast..
“The institutionalization of this space is coming and coming very quickly,” Novogratz noted in November..
Recall that the founder of Standpoint Research Ronnie Moas was recently forced to revise his forecast for 2018, who raised the bar from $ 11,000 to $ 14,000..
Commenting on the volatility in the market after the Tether hack and the theft of $ 31 million, Novogratz explained that traders are in a nervous state, worried about the fact that they may lose all the money that has earned on the growth of bitcoin this year. Consequently, they react sharply to any such news, often overestimating its significance. At the same time, Novogratz believes that so far there is nothing to worry about, and the cryptocurrency market is far from the scale, after reaching which it will be possible to say that the bubble is ready to burst. This summer, Novogratz suggested that the total capitalization of the segment could grow to $ 5 trillion.
“We are in the second or third period of this revolution,” says Novogratz. “Because prices have gone up so high, people are getting nervous. You made a lot of money, the news came, you want to calculate the profit and exit “.
Novogratz also noted that investors reacted vividly to the news of the creation of a cryptocurrency hedge fund Galaxy Investment Partners with a capital of $ 500 million, of which he contributed $ 100 million himself. He hopes that he will be able to collect the missing part of the amount early next year..
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