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The price of Bitcoin will not exceed $ 9,000 by the end of this year, according to the statement “Novogratz”

The price of Bitcoin will not exceed $ 9,000 by the end of this year, according to the statement “Novogratz”

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Answer The price of Bitcoin will not exceed $ 9,000 by the end of this year, according to the statement “Novogratz”

On the stage of the Economist Finance event in Manhattan last Tuesday, Novogratz said that he does not believe the price of Bitcoin will break the $9,000 barrier this year.

Last year, Michael Novogratz predicted that the price of the cryptocurrency (Bitcoin) could reach $40,000 by the end of 2018, and that it would take until the first two quarters of the year to break Bitcoin above $10,000.

The world’s strongest and largest cryptocurrency (Bitcoin) has fallen more than 53% of its value this year alone, and was trading near $6,540 on Tuesday, while other cryptocurrencies such as: Ethereum and Ripple witnessed a 65% drop and 76 % respectively in 2018.

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Novogratz, a former Goldman Sachs trader, said a lot of this price pressure came from industry participants who needed to sell “just to fund the industry’s burn rate.” He explained that “companies that do not make any progress close to the revenues they achieved during the cryptocurrency boom last year were sold to meet their financial obligations (salaries).”

It’s hardly a drop, according to what was announced by Michael Novogratz, CEO of cryptocurrency-focused bank Galaxy Digital, on the Canadian Stock Exchange last August, and the so-called “Bitcoin bottom” in September.

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Novogratz said on Tuesday that institutional investor money will find its way into “cryptocurrencies” by 2019, anticipating the return of the “FOMO” that spread as Bitcoin approached $20,000 last year.


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