With each new key value hitting, cryptocurrency traders are wondering if Bitcoin has peaked or is it just the beginning. According to CEO Global Investment Partners Mike Novogratz there are still enough opportunities in the market for continued growth.
Bitcoin has not peaked and may rise to $ 50,000 in 2018 – Mike Novogratz
“This looks like a speculative high. The only reason that makes me doubt it is that this is a big world, and market capitalization has not yet even approached those values that could be considered a peak for the entire system, “he said in a conversation with Bloomberg.
Novogratz said that he sold bitcoins in the morning, and later, when he tried do it again, could not because of problems on the exchange.
“One of the reasons that makes me think this is not a peak, even in the short term, is that usually the markets are in a state of exhaustion when there are no more buyers,” explained Novogratz. “Now they cannot cope with number of buyers, who want to get in, so I think this is not the peak. I think it’s just speculative fever. “.
Novogratz’s latest commentary largely echoes his previous statements that bitcoin is a bubble that will burst someday, but this will not prevent him and other investors from making money on cryptocurrency. In a conversation with Bloomberg, Novogratz corrected for the current “euphoria” and raised his forecast for the bitcoin rate for 2018 from $ 40,000 to $ 50,000.
At the same time, he claims that he sees no signs that could indicate that the speculative bubble is about to burst. Before that, the bitcoin market must enter at least, institutional investors and pension funds.
“Bubbles don’t burst as long as there are buyers, until there is a load, and there is still no load. I think this is what we are waiting for, ”added Novogratz.
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