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RE: Mike Novogratz - "Impossible for Bitcoin not to get to $10k this year"
I fully agree - anyone who uses the word "impossible" when talking about investments is either a con-man or a clown...
Isn't it equally "impossible" that Bitcoin wont go under 4k this year? - Hell if I had to bet on one impossibility I'd bet on that one. But I already did that last December when I sold all mine at 17k...
Bitcoin is probably a dead horse now
I think he knows that it isn't technically impossible. He is looking at everything being built behind the scenes, taking that into account with the big money he talks to wanting in, and
also charts bottoming out along with regulatory clarity, and sees a snap back rally as something very probable over the next 4 months. Though, anything is technically "possible."
Markets follow patterns which suggests that if it goes below $4975, the next support zone is somewhere just above $3K. It might even flash crash to somewhere around $1K, but if that happens it won't last long. Ethereum did this briefly in June 2017 on rumors of Vitalik's death and went all the way down to about 10 cents, but that condition lasted only for about a minute or two.
I'd never count Bitcoin out in the long term. I think we will see new ATH's by the last quarter of 2019. The gains coming in the 2020's will be historic. I think that technically we will be out of the bear market by the end of next winter (Feb / Mar 2019) but trading might be sideways next summer, but it is definitely going back up well above 20K, it's only a matter of time.
I have reason to believe that the next parabolic FOMO will start summer 2020 and won't peak fully until early 2021. By then, bitcoin prices could easily be above 100K.