Bitcoin Forum

Michael Novogratz a Former Fortress hedge fund manager and also a bitcoin  and ethereum investor said on Monday that bitcoin can multiply more than four times in roughly the next 13 months i.e before the end of 2018 .And equally see 50% correction.


Michael Novogratz a Former Fortress hedge fund manager,

said on Monday that bitcoin can multiply more than four times in roughly the next 13 months,

“Bitcoin could be at $40,000 at the end of 2018. It easily could,” Michael Novogratz said on an interview with CNBC’s “Fast Money on monday.”

He alos said that “Ethereum, which is getting close to $500 , could be triple where it is as well.”
Bitcoin was trading near $9,656 late Monday afternoon, after hitting a record high above $9,700 earlier in the day, according to CoinDesk. Ethereum hit a record high of $493.40 Monday, according to CoinMarketCap, and last traded near $482.

The total market capitalization of all digital coins on CoinMarketCap has surpassed $304 billion Monday. Novogratz said he expects that could increase by about six times to $2 trillion at the end of next year.
Market capitalization of all digital coins (year to date change)

Read More Here:https://bitzamp.com/expect-50-correction-on-bitcoin-soon/ (https://bitzamp.com/expect-50-correction-on-bitcoin-soon/)

A 50% decline from current levels would put Bitcoin at $5000. That is still a tremendous gain from the beginning of last year. Not many people will be complaining, apart from greedy people who wanted to double their money in a week's time.

Am I correct for what i understand? He said that Bitcoin can reach up to $40K  at the end of 2018 and by 2019 it will equally see a correction of 50% which ranges from $20K, not bad for a correction, but that was big dip. Well, Too early to speculate on Hitting the $40K mark but one thing is for sure correction will come and will happen next year, I don't know what will happen with CME but the hype it is getting right now is overwhelming and really helping to pump up Bitcoin which is a good news for me, I'll ready up myself, specially for this corrections and dip that may happen next year.

What of folks that bought at $7000 and above

Very interesting speculation from Michael Novogratz,first 40 000$ at the end of 2018 and then 50% correction.I think we can all agree with 40k$ for 1 BTC but 50% correction is too big,maybe he know that there will be some huge dump and maybe he plan to dump his BTC&ETH at that time.

I can only say that I hope there will not be such huge dump never,but there will be correction for sure.For some people that may sound like a big catastrophe,but if this happens someone will make big money on sell high and buy low later.I hope other major investors will comment this speculation.

On Monday, Michael Novogratz, former hedge fund manager says that bitcoin will be four times multiples in next few months.
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You Are there

Being one of them, my strategy is to sell as soon as I see the correction happening.
Sometimes I feel bad about getting into crypto so late, I've been reading about buying bitcoin as early as 2014. I bought some on Jan but had to sell because I needed the money.
Man, do I feel regret haha.

As much as I hope for a 50% correction (buy more), I doubt that we are going to see it. There is such a large new influx into crypto (new registrations on exchanges) and so many seasoned traders who wait for it to accumulate more. I give it a 20-30% correction max. More likely is a continued bullish trend in case BTC does not retrace today or tomorrow (10k cashing out)

you know what, all these "bubble talk" is starting to sound like the boy who cried wolf to me. for a very long time, they keep  calling bitcoin a bubble and talk about how it is going to burst and fail and drop and some even go as far as saying how it will burn to the ground. and then bitcoin has a small correction before it continues back up again.

maybe it happens eventually, and then i say even a broken clock is correct twice a day.

I honestly wouldn't mind a correction of that magnitude, but at this point it's more or less speculation based on nothing that applies to a market that is being filled with more and more capital. Sure, I definitely believe that we at some point will experience some sort of a correction, but the only thing we can speculate about, is the moment it will happen. It might be at the time this market touches the $10,000 level, or it might be when we are touching the $20,000 level somewhere in the next year. Main point of importance is that when we do experience a correction of whatever magnitude, people shouldn't be surprised -- nothing in the world goes up in one straight line without experiencing a correction every now and then.

How is the end of 2018 "soon"? These titles are sensationalist all the time, and they detract you from the message of the article. The title and the article have nothing to do with each other.

Now the bitcoin rate is 10106 dollars. I personally did not expect such a rapid rise from him. This exceeds the most optimistic forecasts, which claimed that only by the New Year he could reach such heights. According to the astrologer's forecast, bitkoyn will grow uncontrollably until the end of winter, after which there will be a correction of his course. You can only imagine what its course will be by the end of winter, if it will grow at such a rate. I already do not know whether this is good or bad. Such a sharp break from the altcoins in the price is not entirely good.

If that's the extent of the major correction we've all been expecting (okay, the one I have anyway) then I'm absolutely okay with that. Although if he turns out right, that's a race to $40k before correcting to $20k, so it's still double of what it is today.

I'll be very glad to see it back down a bit after 10k, to be honest. Every amount of coin I get now is 10 times less than what I would have had a year ago, setting me back again and again to my goal of gaining 1 BTC. I thought I'd have it by end of 2017, but doesn't look likely anymore at this price.

Oh wait, why are we listening to another former hedge fund manager? Why former? Was he not good at his job? ;)

I guess it's  better to have a correction soon because there's already no balance between bitcoin and altcoins. But the 50% correction is too much and could pull the price more so I just hope that it's 20%-30% correction.

I think it's certainly possible that Bitcoin will be 50% down during some big panic sell, but it's more likely that it will bounce back to -20% or -30%. Speculative corrections are bound to happen at some point, they are indicators that the market is not ready to continue it's bull run at that time. So, corrections are not really that bad or scary, that biggest risk is for newbies, because they panic sell believing that Bitcoin is dead. What really scares me with Bitcoin is the possibility of some big event that might cause a long term bear market - like the Gox crash, for example.

it certainly could go either way,but 50% correction is too pessimistic
or optimistic if its an upward correction :)
10.500$ today and rising,if we see a correction it is a shave to let whales buy more
drop is not happening,there are too many positive news and events for it to happen any time soon
but 20-30% is "normal" for bitcoin,remmeber the 6.500 to 5000 drop not so long ago?
so,do not take everything you hear for granted,if you hold then do not pay attention to corrections and swings

I think the correction, is happening now, but is being masked, because of number of new transactions, and the adoption of new people who buy without look the price.

This could change in a heartbeat.

Just imagine a "black swan" event like:
-high-profile ICOs get exposed as scams or can´t deliver on their (huge) promises
-Tether gets exposed as a scam, people realize that the BTC rally was heavily influenced by this
-Bitfinex announcing bankruptcy as a result of the Tether shakeout
...


During the current bull run many newbies entered, who will be easily weeded out
by a 30% or even higher correction. The people, who already survived the Mtgox bull run
and other big events in the history of Bitcoin will not be concerned by this. But people, who bought
BTC on credit at a price near the current price level or invested an irresponsible large part of their
networth are going to be weeded out pretty quickly. Besides, the mainstream media coverage would
turn from reporting new ATHs to quickly pointing out the huge losses of BTC investors.

I'm sure Michael Novogratz has great knowledge about how markets work but this only shows that no one really knows how bitcoin will behave. The potencial is there, but maybe we are not ready to deal with it right now. Don't forget that bitcoin is decentralized, unregulated, and it runs on a free market. Dr. Garrick Hileman, a Cambridge Professor, called bitcoin an economic miracle, and this is what an opinion from an expert free of speculation looks like. He knows that bitcoin has no precedents in our history, so it's impossible to understand it's behaviour. The only thing we can do is look at it with curiosity and try to study it and learn from it. No point

Everyone is judging bitcoin price and bitcoin growth based on their knowledge about traditional markets, but there is nothing traditional about bitcoin, and I think they keep forgetting that.

A part of mee feels like it's necessary to crash back to $5000. I would still be in profit a'd able to snatched more up for the long run. But at the same time I don't want that to happen. Where I'm from bitcoin coin has gotten a lot of attention yesterday when it hit $10,000 but a lot of people here are still skeptical or find bitcoin fishy. So if it would crash by 50% everyone will be like : "I was right."

A correction will certainly happen but I don't like statements and articles expecting that it will be a 50%. It could manipulate others and spread fud and make bitcoin to crash harder.

I don't think bitcoin will get a 50% correction and drop to $5000, as CME group is going to list bitcoin on it's trading board soon next month.

I wonder what he said about today's drop in the cost of bitcoin? Correction? I doubt if it's more like a panic, but what caused it? Really, interruptions in the work of exchanges?