Novogratz: Bitcoin will reach 40,000

Mike Novogratz, who was a top manager in the Fortress hedge fund, has a very good feeling about the Bitcoin price. It is safe to call him one of the main famous Bitcoin market bulls. When the most expensive cryptocurrency in the world was just $4800, Novogratz did not exclude a fantastical sum of ten thousand dollars per one coin.

Back then, his predictions seemed like a regular verbal intervention of the one who is interested in the further asset growth. In the fiat market, for example, when someone is not interested in the asset growth, this someone tells this asset will not have a good future (like traditional oil producers talked about shale oil). Contrariwise, when someone is interested in the asset growth, he promotes it and predicts big values. Verbal intervention is not new and at $4800, everybody had the right to suspect Novogratz is just making it, as he is currently investing big sums in cryptocurrency. And now he tells that Bitcoin would reach 40,000 dollars eventually.

But now that Bitcoin is nearing 10,000 dollars, we might reconsider our skepticism. What if Novogratz already knows something we don’t know? What if skeptics will be put to shame again when this cryptocurrency reaches $40,000? It is up to the reader to decide whether Novogratz deserves attention.