Novogratz: bitcoin will grow four times in 2018

The owner of a multi-billion dollar hedge Fund and former member of the Fortress, an active supporter of bitcoin Mike Novogratz is confident that over the next year, the cryptocurrency's number one will be able to increase its price four times. Optimistic forecasts relate to Ethereum. Novogratz believes the second most popular digital currency will be able to triple its value. His predictions, he shared the Fast Money program on CNBC.

Earlier this year, Novogratz has officially left the traditional financial industry and focused on capabality investment. Over the past few months he communicated with a number of institutional investors willing to "join the game", especially after CME announced contracts on bitcoin futures.

Novogratz noted that bitcoin expects a "large wave of investors" led by large firms such as Man Group, with assets worth USD 95 billion and Fidelity Investments, in whose possession active on the 3.2 trillion USD.

"There is a large influx of money, not only here [in the US], but throughout the world. What is the difference between these coins and any other goods so that the absence of a response from the supply side ... there's every move is exaggerated. Consequently, the correction may be overestimated by up to 50%", — he said.

Novogratz is not the only investor who predicted large price adjustments in the future. This week engineer BitGo Jameson Lopp said that big changes can occur throughout the process of development of bitcoin. However, he noted that even the correction 50% only "roll back bitcoin two months ago," and probably its price will pretty soon be restored.

How likely that by the end of 2018 bitcoin will be worth $ 40,000? It is likely, given the interest of new players with big money. Ultimately, 2017 bitcoin has increased in 11 times — from 900 till 10 000 USD. In comparison, increasing only four times seems quite plausible.
the authorship belongs to:Alain Filippenkov | 28 Nov 2017 15:39