Bitcoin To $10,000 In 6 Weeks? Easy, Novogratz Tells Bloomberg


Wilma Woo · November 21, 2017 · 2:00 pm

Serial investor Mike Novogratz is that this week’s championer of Bitcoin, predicting $10,000 by December 31 as costs hit new all-time highs at present.

Novogratz: ‘Amazing Technology’ of Bitcoin Puts It Ahead of Gold

Speaking on Bloomberg TV, Novogratz, who has been bullish on Bitcoin all year long, mentioned Bitcoin would but hit the magic quantity earlier than the brand new yr, and likewise predicted $500 per coin for Ether (ETH) inside the identical interval.

“…Gold has value solely because people say it has value; bitcoin is built on an amazing technology, there’s a limited supply of it,” he instructed presenters persevering with his help.

Novogratz: 'Amazing Technology' of Bitcoin Puts It Ahead of Gold

Bitcoin has staged an additional comeback over the previous week after furor broke out over Bitcoin Cash and an alleged synthetic worth pump by Tether buyers.

The US greenback surrogate launched huge numbers of tokens into the ecosystem this month, solely to reportedly lose 30 million Sunday to the hacker liable for robbing Bitstamp in 2015.

Bitcoin Prices Shake Off Gossip to Continue Highs

Bitcoin Prices Shake Off Gossip to Continue Highs

While the elevated issuance might properly have pushed costs to their present $8000+ ranges, the lack of Tether tokens this week did nothing to reverse that pattern. Bitcoin is at present buying and selling at round $8350 on Bitstamp and different main exchanges, offering ample motive to consider Novogratz’s worth goal is definitely attainable.

“We’re in the second or third inning,” he continued. “Because prices have moved so far people are nervous. You made a whole lot of money, there’s news, so you want to book your profit and get out.”

Further worth momentum is constructing forward of CME Group’s Bitcoin futures launch subsequent month, which can open up regulated buying and selling to institutional buyers at present dealing with restrictions because of the US regulatory local weather.

Despite dealing with a vote of no confidence even from one among its personal clearing platforms final week, CME’s chairman and chairman emeritus are each badured that Bitcoin will enter a brand new period because of the transfer, turning into a “new badet clbad.”

Do you agree with Novogratz? Can Bitcoin attain $10,000 by the tip of 2017? Let us know within the feedback beneath!

Images courtesy of Shutterstock, Reuters

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