Mike Novogratz: We will wait much longer for the bull market

One of the most famous crypto-market investors, Mike Novogratz, lowered his forecast of bitcoin prices. He said this week that he no longer believes that digital gold will reach five-digit course this year.

According to CNBC, Mike Novogratz said at the Economist Finance Disrupted conference in Manhattan that he did not expect the price of bitcoin to reach even $ 9,000 this year.

“I do not think that this year will amount to $ 9,000,” he said on Tuesday at the event, explaining that at this point in the bear market, blockchain companies are forced to sell their cryptocurrencies. He probably means that companies sell their crypto-coins to finance their activities.

The history of a certain forecast

Earlier, however, Novogratz predicted that the price of one bitcoin could reach USD 40,000 in 2018, and the total market value of cryptocurrencies would exceed USD 2 trillion. He then lowered this forecast to $ 800 billion. At the end of July he changed his mind again, stating that the market would not reach $ 800 billion. It is now expected that the price of bitcoin will begin to grow in the first and second quarters of 2019 and will exceed the threshold of USD 10,000.

Recently, we also wrote about his opinion about the hole on the course chart. During the annual meeting All Markets Summit in New York admitted that the current cryptocurrency prices are already very attractive. In his opinion, the market reached the level of sales.

Despite the volatility, Novogratz still believes in overall bitcoin increases. In his opinion, bitcoin is not an analogy to the seventeenth-century tulip bulb, compared to the skeptics. He added that he sees more companies investing in cryptocurrencies.

The price of bitcoin raises a lot of controversy. Ethereum’s producer, Vitalik Buterin, admitted that he thinks it’s the end of bubbles on bitcoin as such. Another opinion is: Tim Draper, who forecasts further booms or CZ from Binance, who also sees a real chance for another speculative bubble.

How will it be in your opinion? We encourage you to discuss!

image: Pixabay.com

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