Bitcoin Forum

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Flash Back-Bitcoin Will Multiply By 13X After 50% Correction;Hedge Fund Manager

The drastic fall of Bitcoin and other cryptocurrency was earlier predicted by Michael Novogratz a bitcoin investor and Former Fortress hedge fund manager. He made the statement in late November while predicting that bitcoin is going to witness a 50% correction after which it will multiply by 13 times within a period of 13 months.

Bitcoin recently Hit $20,000,If the prediction was right we expect bitcoin to touch $10,000 before experiencing a massive bullish movement.

Read More: https://bitzamp.com/flash-back-bitcoin-will-multiply-by-13x-after-50-correctionhedge-fund-manager/ (https://bitzamp.com/flash-back-bitcoin-will-multiply-by-13x-after-50-correctionhedge-fund-manager/)

The numbers might be a bit specific but directionally makes sense.
Its still early and we've got a long exciting ride ahead.
Keep your eyes on the future

Mike has been very bullish about bitcoin and I like his predictions. We has tons of stash somewhere but he is someone very courageous predicting the rise and fall of bitcoin. He may be right once more, but we will have to see, its too early to tell but with the current downward trend, we may see bitcoin getting to $10,000 once more. But its only the beginning, if he is right once again then bitcoin will definitely recovered slowly and see another massive bull run and hitting all-time-high. It also shows that bitcoin is for long term investment. If you don't hold and keeps dumping for every crash and price correction, in a span of 6 months to 1 year, you might have been loosing significant amounts. Again, exciting times ahead, just continue to HODL, no need to panic sell because what we are witnessing is just another bump along the way. We should all look at the bright side of things. We are down, but definitely not out.

It has always been like that. Increase to a new all time high, massive correction after that, and as soon as we have dealt with this correction, multiple all time highs will follow. If you by now still don't understand this, you have been sleeping, or you're just one those gamblers blindly buying at a certain price where from that point you blatantly assume the price will go up. How difficult is it to just hold through this? I see how social media has jumped up and down just because of this. I admit that it has gone down quite a bit, but did we suddenly stop looking at how much we gained this year already? People should man up for once and act like a champion instead of a headless chicken....

I'm lost, he said "Bitcoin Will Multiply By 13X After 50% Correction"; I talked about it in the past post, but I'll repeat it. According to this news Michael Novogratz: “Bitcoin May Dip to $8K” — Puts Crypto-Hedge Fund on Hiatus (https://news.bitcoin.com/michael-novogratz-bitcoin-may-dip-to-8k-puts-crypto-hedge-fund-on-hiatus/)

he said:

reading this passage you can see that he is not more confident and makes me have many questions... he has already predicted that in the next few years bitcoin will be worth $40.000, so why he does not buy bitcoin for the price of $13000 or $14700?

He has also been selling bitcoins at various stages - when the price crossed $14K, $16K and $17k. He talked the price up but his actions were somewhat different - he kept selling as the price went up. Now after having sold a portion of his stash, he now says Bitcoin could drop to $8k.
That does look odd to me - him profiting while other who followed his statements don't.

Because nobody can be sure about the behavior of bitcoin. For example earlier I was hoping that bitcoin will be currency of the future. Now I'm not so sure. Everyone is worried about the high price of the transaction and a big turn on. But the developers do not want to change this situation. Perhaps the rumors about the rising price of bitcoin in the future spread whales to keep the price and sell your bitcoins.