Bitcoin Forum

Cryptocurrency enthusiast and CEO of the Galaxy Digital Foundation Mike Novogratz (Mike Novogratz) in an interview with Bloomberg said that Bitcoin is unlikely to continue to decline further.

The former hedge fund manager and partner of the Goldman Sachs Group believes that in the foreseeable future, the rate of the first cryptocurrency is likely to fluctuate in the $ 3000- $ 6000 channel. At the same time, Novograc expressed interest in macroeconomic transactions.

“We are moving to a great macro era. Cryptocurrencies are less interesting compared to macroeconomics. It has been boring for many years, and cryptocurrencies have aroused interest, but now everything has changed, ”said the former Wall Street former manager.

It is noteworthy that despite the fall in the cryptocurrency market by almost 80% this year, Novograc considers Bitcoin to be a promising coin. In his opinion, the first cryptocurrency will become a repository of value. He sees a no less perspective in tokenized assets such as real estate.

Mike Novograts also expects a massive arrival of institutional investors and a significant increase in the capitalization of the cryptocurrency market.

"I think that the institutional market is on the way and the decline in the cryptocurrency market is almost complete," Novograc concluded.

Note that earlier Mike Novograts compared Bitcoin with a drug, and the current situation on the market - with the "methadone clinic." However, before that, he believed that in the second quarter of 2019, the first cryptocurrency would reach $ 20,000 and, perhaps, even step over it.

It is worth emphasizing that today the Bitcoin rate has risen by more than 20% from local minimums and exceeded the level of $ 3,900.

A source:https://bits.media/mayk-novograts-bitkoin-vryad-li-upadet-eshche-nizhe/

I hope Mike Novograz will make an effort to keep the market and keep it from falling below 3000. I think that everything will be fine.

Almost all days of this year has bearish with a lot of sadness and also majority were forced to cut their Lose. Just like as Mike Novogratsz the price dump will probably not happen anymore

Novogratz has continued to make claims since as long as I can remember. He'll be considered a shark once one of these targets hit, but that goes for anyone attempting to make a call on the position of the market, or any "bottom" for that matter.

However, if we were to base this level of drop on historical price declines, Bitcoin is close to the point where it's been considered the "lowest lows". In 2011, Bitcoin dropped over 92%, in later years, high 80%, and so on. We are close to that range of retrace.

If anyone is buying right now, I think that it's a good idea to accumulate and hold at this point. Not all at once, of course!

any idea how much money mr. novogratz lost with his failed bull calls on bitcoin? he is doing that since quite a while.

if you want stability for bitcoinprice from mr. novogratz then tell him to invest all his billions into bitcoin.

Says the guy that predicted 20k then said it will not go over 10lk, then said that it will not drop lower than 6k, ...

He was wrong in every damn prediction in the last 6 months, he'd better just shut up cause every time he opens his damn mouth the opposite happens.
He's something close to the "proudhon" indicator, just the other way around.

I do not really believe all analysts. They are constantly trying to guess the course, and when they guess, they talk everywhere that they had previously said that it would be so. But when they make mistakes, nobody pays attention to it. Almost all analysts give very vague forecasts that later no one blamed them. No one knows exactly what will happen next with the market and when the real growth will begin. Novogratz is quite cautious in his statements, because he is quite clever and cautious.

I wouldn't be trusting Novogratz for my positions any longer, knowing that the guy have predicted and called several things that did not went well (remarkable one was bitcoin isn't going anywhere but up (https://dealbreaker.com/2018/09/mike-novogratz-bitcoin-has-nowhere-to-go-but-up-in-spite-of-having-another-6700-of-room-to-go-down/)). Like any other predictions, his is not hitting the right targets, and if some of them did, it's obviously just a lucky strike but nothing out of the ordinary. He's just like the regular guys like us, trying to guess what sort of movement would bitcoin get next and hoping that each guesses hits the right movement.

I think his crypto fund lost upwards of $130+ million since he started it last year heh.

Anyone telling you Bitcoin won't or can't fall is pretty stupid. Saying "unlikely" is a safe word. Don't speculate unless you want to be in for a wild ride. Focus your time learning about blockchain technology, or work on building something that has net benefit for the ecosystem. Rent-seekers are making this community really hard to enjoy.

there has always been a market:mining dynamic that plays out during low speculation. yes no one can predict the volatility of prices up's (hype, spikes and ATH).. but the underlying value of the bottom LOW support has shown the dynamics at play.

with the last difficulty adjustment of 2018 just passing we are now in the realm of pools realising that next weeks deliveries of next gen asics will be pivoting the hashrate into a rise. and so the market:mining dynamics will play out with a rise too.

no one can predict how high. or how much. but if you watch the hashrate and it it continues with a sustained rise then the market:mining dynamics will play out positively

yes. that is a wrong statement. the reality is that BTC has fallen from $ 20K to $ 3400 now. but the decline in BTC will not reach a very low value. I think BTC will fall to the point of $ 1500 in January. and extreme volatility of BTC will not turn stable.

thats actually a sign that its going to fall lower, mike novogratz is usually oppositely wrong with his predictions

I don't think anyone is worse than Tom Lee though

I, just like you, do not think that Bitcoin will fall even lower, as I believe that now is the absolute minimum that we can see for the price of Bitcoin

you really think that the hashrate is going to fall to 12exahash to support the market:mining dynamics whereby
12exahash of only 450,000 s15's
or
14exahash of only 1m s9's

you do realise typically in 2018 bitcoin had running 3.5millioon s9's
now its at about 2mill S9's

do you really think that the hashrate gonna go down much more even when new asics will be coming online??

well i predict again it will fall lower, i am quite sure about it,

i was right month ago.

issue is the loss in social support.

we have no mass attraction of users into this forum, but a loss in viewes and forum website visitors.

jes he was also very wrong.

Too much of these speculators that doesn't even hit the right prediction that they have been said. Almost everyone was trying to predict the right amount or pumps and dumps but none of them hit it straight. We should follow the news and lead of the chart if we want to know the future that awaits to us in cryptocurrencies.

how about checking the amount of bitcointalk website visitors
https://www.similarweb.com/website/bitcointalk.org#overview

it correlates quite well with the price.

i believe analysis. but not fake analysis. real analysis is an analysis that has strong and justifiable arguments. so analysis is not just an expectation. it only makes us doubt and panic. traders and investors need analysis. without analysis they will lose.

Yes, bitcoin had reached the bottom for this year and will not fall further. Actually it is on the rise now. From $3,400 it had rise already by more than 20% since then. An average of 8% increase per day will surely be a good recovery towards the end of 2018. The bulls are here and they are very oprimistic of the current rise.

This is good that despite this situation in the market, people still continue to believe in bitcoin. He is not the only celebrity who speaks positively about cryptocurrency and sees potential in them. This is undoubtedly a very good impact on it, because people are used to trust influential personalities.

This is a cognitive bias, and it's called "Authority bias", which is the tendency that people have to follow what someone with 'status' in a specific matter says.

Now, like some others have said, Novogratz doesn't have the best record at making right predictions when referring to the bitcoin price, so I'm pretty sure that bitcoiners don't care about what this guy says, however, it'll be interesting to see if the average joe will be influeced by what he said and will start  keeping an eye out on the bitcoin price, it'll be positive if these sort of statements from highly influential people can spark a bit of curiosity among the general public.