Bitcoin Forum

Galaxy Digital CEO Mike Novogratz has given his opinion on what I find very important about BTC, this is something that can be taken into account for some who want to enter the market.

I find it very interesting because he mentions the metaverses and everything related to the war in Ukraine and Russia, even so the bet because BTC can have a very good price at the end of this year. Could it be so?

Novogratz has very valuable points that can be mentioned, among these we have:


https://i.imgur.com/VXYM0SZ.png

SOURCE: https://dailyhodl.com/2022/04/02/billionaire-mike-novogratz-says-bitcoin-may-significantly-outperform-his-earlier-targets-for-2022/ (https://dailyhodl.com/2022/04/02/billionaire-mike-novogratz-says-bitcoin-may-significantly-outperform-his-earlier-targets-for-2022/)

In my personal opinion, it is a good time to buy despite what many consider to have emotions such as: fear, panic, among others.

Off topic note: I want to add that I do not work for cointelegraph or for any BTC and cryptocurrency magazine (I wish I worked for them, but no) I do not want to hurt sensitivities.

Yep, speculating Bitcoin's price due to Web3 and metaverse ::) I don't think he even understand what does Bitcoin is. Web3 is similar like dapps exist since 6 years ago and it's only for ETH, BSC chain, not Bitcoin! Metaverse also doesn't have any relation with Bitcoin and it doesn't have any difference with Virtual Reality exist since long ago. I'd say those hype altcoins stuff (Web3, Metaverse, NFT etc) doesn't make Bitcoin adoption widely, instead many people shift to altcoins.

I'm not sure about Metaverse, but it's interesting that he mentions about the war because as a community we have been discussing it already.

And I think as much as we hate the war, it might be good for the crypto market itself as many people might hedge their wealth on bitcoin and other crypto to fight the inflation brought up by the war. So we will see, he initially predicted $30k-$50k last week, but it seems he changes his stand on how the market will go for this year.

Sure, Bitcoin may or may not exceed its previous goals. Remember what happened last year. The price expected by everyone was higher than it turned out to be, as an absolute minimum of $100K was expected.

Other than that, if a financial asset is top quality, or the best, as in the case of Bitcoin, it is always a good time to buy. The issue of wars, etc., makes the price fluctuate in the short term because people get carried away by emotions because they sell when they shouldn't, that's why you should always take a long term view.

Fear, panic and emotions always gets connected with the buying of bitcoin, because the market is unpredictable. It can fall down or bounce high. In the article he have mentioned about all the possible outcomes of the market with relation to the technology taking the price to make new goals for the year.

On the other side more adoption is happening with bitcoin which makes it more progressive and assure of future growth. Whenever one consider bitcoin an investment, the focus should turn for the long term profiting. When one can follow this, then there is nothing to panic. More crypto events are scheduled for 2022 which too adds strength to the market.

The biggest strength of bitcoin is that there is a strong emotional value around the market that it will beat inflation and also pave ways for keeping the financial mafias out from the system. Various CEOs talking about their positive feeling about bitcoin, creates an aspirational value which essentially help building the image of bitcoin among the mass. So I personally think, the current price level is actually very good to buy in, if you want to stay invested for a long period of time. But if you want to gamble with the price changes over a short period of time, then it might not yield anything to you.

We have already seen bitcoin reaching to 66k for a brief period of time so we all know that there is potential but such potential can only be realized when you have a long term goal and capacity to stay invested during a price turmoil. You need to keep panic out of sight.

With all current events happening in the world right now is just like the same as what happened when the pandemic COVID-19 started, when we saw a huge drop in the market, crypto or even non-crypto market.
So for now, especially Ukraine/Russia  issue right now which most of people telling that it is negative for Bitcoin, I don't agree with them.

We should understand where Mike is coming from, one of the biggest whales in the bitcoin market. And he has a lot of wealthy clients who is into bitcoin so obviously, he will have to be a perma bull, no matter what's going on around the world (war between Ukraine and Russia). But as crypto being adopted globally, just a matter of time before the price will explode.

I agree,but this is just a clickbait title.We shouldn't take it so seriously.
Many people view Bitcoin as investment tool and many Bitcoiners think that the Bitcoin price moving up is the most important thing in the world.
Mike Novogratz is a well known Bitcoin bull for years.Of course that he's going to be extremely bullish about Bitcoin.What he says is a bunch of gibberish.He's using BS to justify his bullish predictions.
The Bitcoin price will increase severely because of the war Ukraine?
There's a war in the last 38 days and the BTC price is still pretty volatile and going up and down.
I don't see a FOMO wave and a clear bull run in the Bitcoin market.
The Bitcoin price will increase because of the Metaverse and Web3?This is pure BS.

Its interesting to see how influential guys predicts bitcoin future as if we really experience that or we gonna flop in future so any of this will be the outcome we should be careful upon trusting those predictions especially if we know those people have capabilities to manipulate people around them. So lets not get hype so much and always follow our own track and ride only with the news.

It's not a new thing that's happening in crypto market before they already exist in different eras yet I can't positively think they are ready to predict some Bitcoin price. Everytime I see or heard an expert as they say telling prediction about Bitcoin price and the future movement where it can possibly land it always makes me doubt about how sure are they with their prediction.

It doesn't matter whether they are billionaire or millionaire since we got billionaire already in the last bull run yet his prediction didn't matter but instead he left and chose to invest in some meme coin instead. I'm sure most of them are using their status/titles to manipulate the people/market.

In years that I have known crypto market, a lot of self-proclaimed experts will give their prediction. But it doesn't mean, we need to believe what they have to say, we can assess it on our own, and follow our instincts when making up a decision. At the end of the day, you need to take care of your investments because no one will.

After reading Mike Novogratz' name. I have already thought that he's always been bullish, a bitcoin bull.

Yes, it's like the 2017 where most ICOs have became a trend by that time and it had repeated due to the fact that we've got nfts and metaverses this time.
That sums up to the bull run of bitcoin and this guy has always been aiming for higher price and giving predictions. I've seen him doing this since the 2017 bull run.

Those predictions can bring hype, and encourage you to hold more but its your job to confirm if that prediction are more possible to happen because if its too good to be true, then better not to listen to that at all. 9 million of Bitcoin already mined and a few millions left, with this limited supply I wonder what would be the bottom price of Bitcoin, I still believe on some predictions that it can really happen in the coming years.

I long for the day that people here would finally stop taking these people's predictions too seriously. People trying to predict movements have been tremendously wrong 9 out of 10 times.

for my years in crypto? Billionaires are one of those who constantly manipulating the market by saying this as good thing to come? or saying that of bad things to happen, but in the end of everything ? it is the investors specially those noob and small investors that suffers from their manipulative actions.

while this can happen but always ready yourself for the sideways , remember that volatility of crypto mostly kills small investors .

You are definitely right, anyone who is investing in bitcoin will always be bullish. To be honest, I don't wanna hear a lot of bullish predictions as that does not sound good based on my previous experience, when people are talking about bullish predictions, mostly the price of bitcoin will go the other way.

There's a lot of reasons why bitcoin would have to be bullish, but it always has its time, so this is for long term investors, they just have to trust the process as we will eventually be back there soon.

I can still remember the time where a single popular influencer will post his predictions and after posting it, the market will react to it either positively or negatively depending on that prediction.

That days are gone already. Predictions of Billionaires and influential people doesn't affect the market anymore. Investors are more intelligent now and not reacting base on the predictions anymore. One thing more is that he holds many Bitcoins and when you are influential and holding large amounts of BTC, you should make a move to pump it at least a little bit to have some profits.

Anyway, don't take predictions too seriously or make it as a basis on whether you will enter or not.

When traditional economies and markets become unstable it's the perfect time to enter crypto market, mostly aiming bitcoin investment as main focus, always. We've seen this during covid pandemic and now with the war this scenario might repeat itself, bringing a pretty decent volume of funds to cryptocurrency again.

If dollar keeps losing strength and value, it's almost sure bitcoin will be benefited, because it will become the plan B for many investors, especially those who cashed out their funds from crypto to invest in traditional american markets after the announcement FED would be raising interest rates this year.

This is a really primitive analysis. War = inflation = good for Bitcoin. We have already seen a lot of cases where Bitcoin price tumbled as a reaction to negative news, because Bitcoin is viewed as a risky asset, and not a true anti-inflation hedge. If anything, the 2021 bull market shows that it's important to have a non-stopping hype train of positive news to sustain the bull run. If there's no good news, the price growth is limited. There's a ton of different factor that ultimately set up a trend, you can't just say that Bitcoin's price is only determined by the inflation rate of US dollar.

Mike Novogratz is certainly more well positioned than any of us to have an "ear to the street" if you will.  I'm sure he hears about all sorts of things that we never learn about.  I'm also certain he has discussions with extremely rich people about what to do with large sums of money.  I'm sure he's using a bit of speaking it into existence here, but him being positive is a reason for a good outlook in my opinion.  It seems like the market has a lot of new buyers and the drop to $10K seems less and less likely with each new entrant to the market.  I think this cycle led big money to be much smarter and get ahead of the retail investor for once.  Instead of a blowoff top we saw profit taking, and now when the market was expected to dip they're buying up everyone's coins.  The cycle truly was, "different this time."

What i see is that those billionaire might losing their wealth pretty soon due the careless investment in cryptocurrency , they think simply looking at those fundamentals are enough to determine where is crypto heading .. that is a fatal analysis especially with the metaverse hype .. the NFT hype etc .. everyone get misguided at the same time to the same basket and that's a disaster to our community.

i won't really surprised if we might seeing a lot of ex-billionaire in the next few years lol.

Metaverse hmm, wondering why Bitcoin wasn't rising up even though Minecraft has been there all this time if it was about the metaverse. I highly doubt as well that the Russia Ukraine issue is going to further affect the market, the only time it could've affected the market was at the start imo. The rest of the time it's just minor movements. As for the end of the year price, I don't think it's going to grow that big, steady movements for this year and maybe the next as well. Might get more dips honestly than increases in price.

I still hold to the opinion that it's always good to invest in Bitcoin though. I still keep up my DCA to this date anyway.

if there are another 5-10 Billionaire that may comment like this ? then 2022 may reach another ATH and that is undoubtedly .

But if we can look on it today? with just this single Billionaire imposing His belief? then i can tell that it is not probably happening nearer .
though we are only in the start of 2nd quarter in which harder to predict the situation? yet we can assume that something Huge wont come along the way.

For billionaires putting their eggs on hyped crypto baskets such as metaverse there are serious chances they are going to lose money, indeed.

Anyway, that would be a foolish move, because billionaires can have access to the best and most professional financial advisors and managers, who have knowledge to execute methods and strategies to maximize the profitability chances, while decreasing the risks of loss.

I believe no serious professionals would advise investments in hyped projects with large sums of money.

This is not a new news,the price of bitcoin already reached the value of 60k dollars.Which is all time high of the bitcoin price from 2013.So it was confirmed that,the bitcoin already reached the Significant one.So now the price is just oscillation with a certain movement.So the next expected change in the price of bitcoin will be 75k dollars.Even ai am holding some bitcoin for that price.

Mike Novogratz has always been a Bitcoin bull so we can set aside his predictions for Bitcoin if we want to objectively predict Bitcoin's future price. Novogratz has already mentioned huge figures in the past that didn't come true. But he will not stop from being bullish on Bitcoin because he is deeply invested in it. He cannot betray his investment and his business. And Novogratz has gone past Bitcoin shopping already because he already has so much. So what he's doing now is socially influencing Bitcoin price or hyping.

Someone's trying to copy the other billionaire.  ::) The only difference is the direction, he wants the path to be on Metaverse and Web3.
The first billionaire focused on Bitcoin and then animals. 4 legged ones. Barks.  ;D

We should not take this seriously for this has purposes. Yes, for their own benefit of course.
Well, I will do the same thing if I have the name, the power, and the money if I want to increase the value of my assets. It's the simple strategy now taking into account the number of people who are using the internet today that may bumped into it. You just did, then shared it which makes it successful.

The difference is that, if there is one billionaire that has always been bull on bitcoin, that's good but individual, if there are 10, then it means there is a group forming, if there are 20 then we are talking about a community. This is why more and more people talking about bitcoin being awesome and doing great and exceeding expectations etc etc would be awesome.

I am not saying that just one of them doesn't matter, it matters and it is awesome but at the same time it is not the greatest thing in the world for crypto. Get like 20 of them together, make them say the same thing together in a conference then we would be doing awesome for sure, then we can talk about not just ATH but more like 200k+ for sure.

There will always be a hidden agenda for their own benefits and this is why I also not believe on those predictions and analysis. Billionaires will always have something to say to encourage people as if they have the control for everything, well with the money that they have they can really influence many people but not me. Bitcoin is already good even without those predictions, we survive the pandemic and as Bitcoin continues to rise, we can really see new peak this year, and this is more important to me.

Anyone could really say their own speculation and views about bitcoin or in overall market even ordinary person could really do such thing.It is really just that these billionaires or influential people could really make
something different because the community does really take these words seriously.

Everytime they would really be saying up some words then it would really be generating several impression whether its a manipulative kind of sentiment or totally just random or personal opinion.

As a trader/investor then you should really be that highly reactive with these kind of calls.

a very good example is elon musk himself. even if he is not an expert in crypto because we have seen some of his old crypto related tweets were a miss from the crypto facts, and yet, people were following his tweets for some reason. so yes, people sometimes follow these rich people because they are thinking that somehow they know what they are doing and they got their wealth because they know what to do with their money. btw, when it comes to this, as an investor, you should be smart, you can ride the market but make sure to filter the valuable info from those sea of info.

Of course it would contribute to people's perception of Bitcoin if the bullish people talking about it over and over again are the world's billionaires. But it would be another story if the billionaires are talking of something while the price of Bitcoin is doing another. Novogratz for example made various predictions of Bitcoin hitting $300,000, $500,000, and even $1,000,000.

But the people would eventually grow frustrated when these billionaires would speak very bullish on Bitcoin and yet Bitcoin's price is falling. It would appear that these billionaires are not actually analyzing but shilling, hyping, and spreading FOMO for something they are highly invested in.

Bitcoin may reach these figures someday but it would be much more appreciated if their predictions are made one step at a time. It's untimely to speak of a million dollar Bitcoin when the price is even having a hard time reaching $50,000.

Just because someone has a lot of money that doesn't mean all their opinions about everything is valuable. Besides when you see someone like this is talking about bitcoin at this point, it means that they have been buying a lot of it over a very long time when the price was lower than this which means you should ask why have they been silent while they were buying bitcoin?

Anyway, the point about inflation is one that I made recently too. It is very good for bitcoin because it will direct a lot of people to convert their inflationary currency called fiat to a new deflationary currency called bitcoin. But to say the war caused it is naive since inflation was in the making for a long time and became worse ever since pandemic started and governments around the world started printing a ton of money. If anything this conflict was the last straw or the catalyst to speed up the downfall of fiat.

We're supposed to keep buying, that was a concrete idea upon investing knowing that Bitcoin is significantly growing almost every year. So what I think is that this person has positive insights based on the market history and he even believes the possible surge coming which able to surpass the previous price.

That is why rich people become richer for they are still investing their money. They remain positive about Bitcoin and crypto because they'll see the opportunity inside. And those who have the capabilities to invest will risk somehow.

There is no doubt that bitcoin will continue to shine in 2022, this is because more and more influencers are actively campaigning to invite the public to invest in bitcoin, and when the price drops the transaction volume skyrockets significantly so that makes me believe in the opinions and predictions of Billionaire who said the price bitcoin year 2022 will exceed target.

Why does this statement make me think that Galaxy Digital CEO Mike Novogratz is ready to dump his accumulated Bitcoin?  


Yeah, he has a positive insight that is why he had been accumulating even before he released the statement mentioned by OP.  But just as pooya87 stated, they were silent when they are accumulating so I think his recent statement is to hype the market and sell when the price meets their target selling point.  


Indeed and don't forget they even do Hype and FUD to influence the market price in order for them to do trades, buy and sell with huge profitability.


The bitcoin market is very unpredictable, it shames lots of TA analysts, fundamentalists, and popular influencers even an infamous one ;D.  We can do speculation, yes but it is just a speculation, either educated or uneducated guess, we never know what is the next trend of Bitcoin until it happens.  It is also very possible that Bitcoin might move sideways this year, 2022, but well yeah, let us make speculation and see what will the Bitcoin market unfold as the year goes by.

I'm tired of hearing same topic over and over but the result ended up to falling so I stop listening to same thing then why would this matter afterall when what we need to see is that the price must climb before taking this seriously.
but its good to hear everything about Bull running .

correct, "be aware and never trust anyone" that's my very common suggestion as well especially if i saw someone or friends that wants to invest huge amount into crypto. because tbh there's a bunch of so called experts when it comes crypto market, wherein, although most of them are known as a big investors as well but its still really difficult to trust, you know why? Because crypto market is very unpredictable ever since before and once you made mistakes in it for sure you will have losses and it will become too hard to regain afterwards. So it's too good to be true always!

What do you expect? Someone will predict accurately? And even if someone did it I think it was just a coincident or they are only lucky because the truth is that the market moves in mysterious ways, no can tell where it will go. If your tired of this bulls**t then just ignore it, no need to reply here and tell us what you feel because that will makes your mood bad. Look, what is the use of saying that price will rise when it's already at the top? It makes no sense.

We can just consider these things as a motivator to keep us going. Not only billionaire but lots of common people already predicted that bitcoin will do good in the upcoming weeks. What did btc achieve this year? 46k? this amount is too easy surpass.