Cryptocurrencies

Will Mike Novogratz Be Right This Time???

Galaxy Digital CEO Michael Novogratz said that he expects bitcoin (BTC) to beat its all-time-high price within 18 months. Novogratz made his remarks during an interview with mainstream media CNN published on May 9.

During the interview, Novogratz also said that he believes that $6,000 is probably a stall point, and the next one will be $10,000. Moreover, he expressed the belief that this time, other cryptocurrencies “aren’t going to go up nearly as quickly.

Novogratz then stated that there are other elements, such as copper, that we value because we use them. According to Novogratz, just like copper, altcoins need to prove their use case in a similar way, “and that means getting people in their community, getting developers, and programmers, and being worthy of something.”

Source

Back in September Mike said Bitcoin would reach $8,800 or $10,000 come January 1st, 2019. That didn’t happen.

Back in November of 2017, while on CNBC’s Fast Money, Mike said Bitcoin could be at $40,000 by the end of 2018. That didn’t happen.

Now I love Mike…he is a former Goldman Sachs partner and now represents Wall Street’s transformation to Crypto, so I don’t care if he is wrong. One just has to read between the lines…he is bullish long term and that’s what counts. Nevertheless, I think his most recent prediction is a bit more realistic. However, the chart suggests, some minor pull backs as price approaches the $8000, level, the weekly supply zone at $8700 and the daily supply zone at $9200.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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