RATE Group | Novogratz Sees Bitcoin Recording 30% Increase This Year, $10,000 Next
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Novogratz Sees Bitcoin Recording 30% Increase This Year, $10,000 Next

22 Sep Novogratz Sees Bitcoin Recording 30% Increase This Year, $10,000 Next

Posted at 18:30h in Bitcoin News by

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Billionaire investor Michael Novogratz, a legendary ex-hedge fund manager, formerly of the investment firm Fortress Investment Group, has said that the Bitcoin price will likely see a 30 percent increase by the end of 2018.

Once Bitcoin surpasses major resistance levels at $6,800, $8,800, and $10,000, Novogratz stated that institutions will enter the market via trusted custodian solutions.

“It’s also a bull market in institutions building the infrastructure needed for real money investors to start investing in this space… I think that in three to six months from now, there will be an ‘all clear’ sign for people — big institutions and pension [funds] — to start investing,” he said.

Impossible Not to Reach $10,000

During an interview with CNBC Fast Money, Novogratz explained that it is impossible for Bitcoin not to rebound to the $8,800 to $10,000 range. Over the last three days, the crypto market has added $25 billion to its valuation, triggered by the 100…

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