A New Forecast for Bitcoin from a Billionaire

One of the Bitcoin supporters on Wall Street is Michael Novogratz. During the year, he repeatedly made predictions for the growth of Bitcoin’s cost, and most often they were optimistic.

In October, the estimated price limit of Bitcoin finalized near $ 10,000 during 2018, then the asset volatility forced Michael Novogratz to reconsider the estimate. According to his forecast, reaching $10,000 was planned by the end of this year. After the jump to $20,000, Michael Novogratz’s forecast for 2018 assumed an increase in value to $40,000.

He also noted that the probability of a bubble is great, but this does not negate the opportunity to earn thanks to it. The businessman prepared the opening of a hedge fund with a capital of half a billion dollars. However, the events of the last week shook his confidence and the fund’s opening was suspended. Perhaps the cost of Bitcoin will be stabilized at a level of $10,000-16,000, previously descending to $8,000,” Michael Novogratz said.

There is not an easy year ahead of crypto-market. Further price growth and its fixation depend on whether futures and ETF will affect the opinion of big players from Wall Street. According to the known data, the means of large players have not been used until now 2017.

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