Mike Novograz: Bitcoin growth still needs to wait a few months

[NeuroticFish]

So Bitcoin will not rise "at least a few more months". Well, there's little chance he could be wrong in this. Pretty common sense assessing of the reality.
But also he didn't say too much useful stuff. Maybe that we have to keep HODLing, because he knows something, maybe more than we commoners know

[deisik]

The market has been extremely generous with people when it comes to allowing them to buy at current levels, and traditionally, markets aren't that generous

Sounds big, what do you mean by this?

And why wasn't the market as generous at 20k levels, for example? Personally, I don't expect Bitcoin to crash a lot lower (if that was your point) but I can't say the same about Bitcoin Cash and Ethereum as it seems to me that their current price is too high for an altcoin (still over 100 for both, which should be around 50). So we may likely see a brutal shake-off in the next few months after all but not so much with Bitcoin as with overpriced altcoins like the ones I mentioned. Time to short both of the houses

[davis196]

"It's a grind" This is the only sentence from that tweet that I consider truth.
It looks like he is waiting for the "institutions" to help for the future btc bull run.This is pathetic,if you ask me.
Institutions can be neutral to bitcoin at the best case scenario.

[btc_angela]

At least he recognises that this bear market is longer than expected and he is not giving exorbitant predictions like in early 2018. Yes, I believed that this will be a grind for everyone and will test our patience. And people should really realises that it will take at least 4-6 months to see some reversal.

[bbc.reporter]

Mike Novogratz changes his predictions accordingly to what the market would be doing at present. He wants get some publicity from the bitcoin news media to promote himself and his hedgefund. Do not listen to him, listen to Tom Lee hehehe.

[Kemarit]

Mike Novogratz changes his predictions accordingly to what the market would be doing at present. He wants get some publicity from the bitcoin news media to promote himself and his hedgefund. Do not listen to him, listen to Tom Lee hehehe.

I knew you gonna say Tom Lee. 

Anyways, Mike Novogratz will remain permabull whatever the market sentiments we're currently in. I don't know if he still has some credibility to back up his claims because we all know his predictions was really off but he still keeps on insisting on it until he finally changes his tune to calm all his clients. But even casuals knows that growth will not immediately come and obviously we need months or even years to be able to see some recovery.

[omonuyak]

Do you also hope that the words of Michael Novograz are true?

I hope his words are truth and I strongly believe that we should be able to start seeing great growth in some months to come.  Bitcoin has over stay in this bearish trend and we should expect a turned of events soonest.

[Indrawan77]

I dont follow this individual but he does make an impact whenever he talks in the cryptospace.
I am sure this tweet will carry some truth for those who do follow him for his predictions.
Ofcourse there are many things which are known to bring the price back up in a few months.
So this is sort of like what you would get by going to a fortune teller at a carnival.

He is quite known person in crypto, but with only bunch of people saying bitcoin is going to go up, it won't help the price to go up, we need a real investors that put the funds or big institutions that ready to accept bitcoin, we need more adoption and more funds, more people support bitcoin will be great but we need real action to trigger the bull and return the trust of the investors

[deisik]

I dont follow this individual but he does make an impact whenever he talks in the cryptospace.
I am sure this tweet will carry some truth for those who do follow him for his predictions.
Ofcourse there are many things which are known to bring the price back up in a few months.
So this is sort of like what you would get by going to a fortune teller at a carnival.

He is quite known person in crypto, but with only bunch of people saying bitcoin is going to go up, it won't help the price to go up, we need a real investors that put the funds or big institutions that ready to accept bitcoin, we need more adoption and more funds, more people support bitcoin will be great but we need real action to trigger the bull and return the trust of the investors

As far as I can tell, Mike Novograz was that investor

So it is not like just a bunch of people and only empty talks about Bitcoin going up. But it didn't help (we may need more such investors to make a change), and now his trust (or fund, or whatever) is deep in the red territory, so he has no other choice but to talk much and make noise about that even if he may be very skeptic about Bitcoin's future growth and just Bitcoin's future personally. Otherwise, people who trusted him with their money would start to question his actions (if they don't already)

[Irvinn]

I dont follow this individual but he does make an impact whenever he talks in the cryptospace.
I am sure this tweet will carry some truth for those who do follow him for his predictions.
Ofcourse there are many things which are known to bring the price back up in a few months.
So this is sort of like what you would get by going to a fortune teller at a carnival.

Simply, the cryptocurrency market, in any case, should soon recover. Manipulators of the market will no longer benefit from stagnating the market. He just might already start to fall apart slowly. Already there is a decline in public interest in cryptocurrency. Therefore, I think that no later than the second quarter, the cryptocurrency market should start growing.

[gabmen]

I dont follow this individual but he does make an impact whenever he talks in the cryptospace.
I am sure this tweet will carry some truth for those who do follow him for his predictions.
Ofcourse there are many things which are known to bring the price back up in a few months.
So this is sort of like what you would get by going to a fortune teller at a carnival.

Simply, the cryptocurrency market, in any case, should soon recover. Manipulators of the market will no longer benefit from stagnating the market. He just might already start to fall apart slowly. Already there is a decline in public interest in cryptocurrency. Therefore, I think that no later than the second quarter, the cryptocurrency market should start growing.

We've all been thinking that it would do that last year. I doubt many expected that we'd be back in the 3k levels at this point. It was stagnant at 6k and we thought that was as low as it can get, and now we're stagnant at 3.5k. Who knows when that recovery will start. I'm betting it'll take longer than the 2nd quarter of this year.

[Febo]

Do you also hope that the words of Michael Novograz are true?

I dont hope. I know he is finally right. He was so wrong in 2017 and 2018. Now he is finally right.

[thecodebear]

Pretty common sense from Mike Novograz here. We're only almost 3 months into the bottom, it could easily take another 6 months before the price starts rising. Settle in and accumulate a bit more bitcoin every time you get a paycheck for the next half year and you'll be in good shape when the price finally starts rising.

Institutional investors will probably slowly come into the space, dipping a toe here and there this spring and summer. I don't expect any market-affecting money from them until after the retail investors have already turned bitcoin around and its broken out of its bottom range. But from late 2019 through 2021 I bet we'll see Wall St buy up a few million bitcoin. It's not gonna happen quickly though as they are worried about putting big money in such a volatile market that they have no experience with (plus at $60 billion currently the market is tiny for them).

[timerland]

Do you also hope that the words of Michael Novograz are true?

I do agree with him in this particular statement.

I think that it's quite likely we won't see any major bullish outbreaks in the next 2-3 months. I also agree with him in terms of the fact that institutional investors seem to be coming in regardless of the bear market, which is something that is completely different to what we see previously when bear markets had no action other than individual traders that act rationally loading up cheap coins. That's why I think recovery will come before the next halving, but probably not this year or at least early this year due to the bearish sentiment still being so strong.

Also, important to note that even though this prediction by him may pan out, it doesn't mean that his future predictions will be valid. I've seen plenty of cases where a so called "expert" in BTC trading gets something right by pure coincidence, before spewing out complete garbage without any analysis.

[MetalGear]

Do you also hope that the words of Michael Novograz are true?

The market is recovering until now and we have to be very patient if we want to earn profit. Maybe it will take a lot of time but we need to be very patient, well no one knows when will the market will rise again and even if an expert or influencer say something about the progress of the market.

[Idrisu]

It is truth and we cannot really dispute that.  Bitcoin is going to grow but how that we be depend on adoptions and acceptability.  The market move in a positive direction in 2017 because of the great adoptions we experienced that year. It will take some months before we can see any serious upwards movement as the market is still feeling the infect of bearish market in 2018!