Mike Novogratz, has again adjusted its forecast for bitcoin (BTC). The billionaire investor said that BTC will not break the price mark of $ 9'000 in 2018.
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Novogratz, a former Manager c wall street, took part in the Economist conference Finance Disrupted in new York, held on 2 October. "I don't think bitcoin will break $ 9'000 this year," he said from the stage.
Novogratz also tied the current position of the price action of companies that sell cryptocurrency "only in order to Finance the burning rate of the industry". He stressed that " these companies did not receive income from the cryptocurrency boom last year, which means that they can hardly cover salaries and operating costs."
In November 2018, when the price of bitcoin has skyrocketed, Novogratz predicted that bitcoin may rise to 45'000 dollars in 12 months.
In the summer of 2018 Novogratz slightly changed his mind, saying that mass adoption of cryptocurrencies and blockchain technology will take five to six years. Despite this, he still expressed confidence that many institutions will enter the industry "in the next two or three years."
In mid-September, he suggested that the price of cryptocurrencies reached the bottom and later, in the same month, he reiterated this point of view, saying that "crypto markets are tired of sellers." However, he noted that "the price of bitcoin is still quite stable and potentially attracts the attention of investors."
This year, bitcoin fell by almost 54%, while other currencies such as Ethereum and Ripple lost even more. At the time of printing, BTC is trading at $6'564.
Link to the source of information (Russian) - https://altstake.io/news/glava-galaxy-digital-bitkoin-ne-probyet-9000-v-etom-godu