In an interview with CNBC, Michael Novogratz has now explained his price guidance for Bitcoin. He assumed that Bitcoin could increase by as much as 30 percent by the end of the year. He also said he expects institutional investors to infiltrate when Bitcoin exceeds $ 6,800, $ 8,800 and $ 10,000.
In the interview in the program “Fast Money” Novogratz also explained his opinion on the entry of the big players. Companies such as Goldman Sachs and ICE have already developed the infrastructure for the participation of other major investors. This is of particular importance, as Novogratz explained:
“It is also a bull market for the institutions that are building the infrastructure for the big investors to get in … I believe that in three to six months, a” clear “sign will be given to the big institutions and Pensions [funds] can start investing. “
The big investors and FOMO
Next, Novogratz assumed that there would be a “big investor FOMO”:
“That does not start right away [$ 20 trillion]. Rather, one of the more fearless funds, who is also the market leader, might say, “Do you know what? There are the custody possibilities. Goldman Sachs is there and Bloomberg has an index for that, where I can measure my success. “Then they will buy. Then suddenly the second buys. The same FOMO as for retail investors [will also capture institutional investors]. “
In addition, Novogratz has stated that many new crypto products will be released in the first and second quarters of 2019. These then promoted institutional participation in the market.
crypto market has found a classic ground
Recently, Novogratz also commented on the situation of the crypto markets at the All Markets conference. He said that the prices had reached the bottom and that there was a “selling fatigue”. It should be noted that Novogratz has long been an advocate of Bitcoin. This is also reflected in the fact that he founded his own crypto-merchant bank named “Galaxy Digital”.At the conference, Novogratz also stated that Galaxy Digital's crypto currency index had found a classic bottom. He had fallen from its peak by 80 percent. Reuters reported that Novogratz said:
“Bitcoin has held $ 6,000. Yes, it is not at its old height, but it has proven to be an asset. “
In the days following Novogratz's statement, the crypto markets have increased significantly. It was special ripple XRP out. On Friday, the cryptocurrency rose by more than 75 percent. As a result, Ripple XRP even temporarily supplanted Ethereum from second place on the list of largest cryptocurrencies by market capitalization.
Sources: CNBC, Reuters, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/bitcoin-kurs-bei-10-000-usd-bis-jahresende-laut-milliardaer-michael-novogratz/
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