Bitcoin could 'easily' reach $40,000, says man who predicted current high

[btcyoda]

The world’s most valuable cryptocurrency bitcoin can quadruple in price from the current record high of $10,000 in the next 13 months, predicts former Fortress hedge fund manager Michael Novogratz. On Monday, the digital currency smashed the $10,000 mark on South Korea’s Bithumb, one of the world’s biggest exchanges for cryptocurrencies.

Bitcoin started the year at below $1,000 and has since jumped more than ten-fold. According to Novogratz, by the end of 2018 bitcoin’s rival ethereum “could be triple (from) where it is as well.”.

The investment guru claims that "probably over 20 percent" or "maybe even 30 percent" of his net worth is in cryptocurrencies, split roughly in half between bitcoin and ethereum. Novogratz expects that to increase by about six times to $2 trillion by the end of next year.

Demand from Asia, mostly from Japan and South Korea, has been the most significant contributor to bitcoin's gains since China halted all exchange-based crypto trading. Novogratz says that in contrast to oil and renewable energy products, companies cannot produce more bitcoin to meet demand since the digital currency's supply is limited to 21 million coins.

https://www.rt.com/business/411151-bitcoin-price-level-2018/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

[bitcoinveda]

for some bitcoin is a bubble but for hedge fund managers bitcoin will raise and raise to 1 million dollars one day all together bitcoin is blown up all imagination for  all new high

[AngelOnCrypto]

for some bitcoin is a bubble but for hedge fund managers bitcoin will raise and raise to 1 million dollars one day all together bitcoin is blown up all imagination for  all new high

I won't make an opinion about the Bitcoin price, but I am getting sick of the "man who predicted something that came true" reputation.

It is so easy to get such positive reputation. There are 1300 cryptocurrencies. Make 1300 predictions for every one of them to be 100x, then delete all your false ones and here we go - the next big prophet. Crypto Jesus.

[Kurokonobasuke]

The world’s most valuable cryptocurrency bitcoin can quadruple in price from the current record high of $10,000 in the next 13 months, predicts former Fortress hedge fund manager Michael Novogratz. On Monday, the digital currency smashed the $10,000 mark on South Korea’s Bithumb, one of the world’s biggest exchanges for cryptocurrencies.

Bitcoin started the year at below $1,000 and has since jumped more than ten-fold. According to Novogratz, by the end of 2018 bitcoin’s rival ethereum “could be triple (from) where it is as well.”.

The investment guru claims that "probably over 20 percent" or "maybe even 30 percent" of his net worth is in cryptocurrencies, split roughly in half between bitcoin and ethereum. Novogratz expects that to increase by about six times to $2 trillion by the end of next year.

Demand from Asia, mostly from Japan and South Korea, has been the most significant contributor to bitcoin's gains since China halted all exchange-based crypto trading. Novogratz says that in contrast to oil and renewable energy products, companies cannot produce more bitcoin to meet demand since the digital currency's supply is limited to 21 million coins.

https://www.rt.com/business/411151-bitcoin-price-level-2018/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

I do believe that it will be able to rrach a market value as that high but I don'r really think it will just be as easy as that. Bitcoin is volatile in nature, flucturations are normal and it means that there will always be time that its market value will sometimes fall. Indeed it is now having a high rate of increase but the problem is we don't really know until.when will it continue at this rate.

[talkbitcoin]

i say the following 2 months will determine the future price of bitcoin and the strength of it in the following years. if we see $10,000 be broken and then if it stays around for the following 2 months or so then that will make bitcoin even stronger. there will be a big resistance shaping up around 10k and all that will bring a lot of attention to bitcoin from all around the world.

eventually all those who believed the FUD and were scared of bitcoin will start seeing it differently and it will also help with the real adoption too.

with things such as Lightning Network (for much faster and a lot more transactions), Rootstock and all the other side chains (for things like smart contracts), and lots more additions in next year $40k will just be a start for bitcoin!

[Kryten12]

It could happen but I think it is pretty unlikely, to many people would be taking profits at 10K to 20K for it to make fast progress.

[phuckit17]

I don't know if 40k is for real... But the amount of people Investing in BTC/Crypto's is about to increase 10 to 50x from what I have been reading so it's Possible. (10k BTC as I write this on Coin Market cap)

[honeyb0y]

The world’s most valuable cryptocurrency bitcoin can quadruple in price from the current record high of $10,000 in the next 13 months, predicts former Fortress hedge fund manager Michael Novogratz. On Monday, the digital currency smashed the $10,000 mark on South Korea’s Bithumb, one of the world’s biggest exchanges for cryptocurrencies.

Bitcoin started the year at below $1,000 and has since jumped more than ten-fold. According to Novogratz, by the end of 2018 bitcoin’s rival ethereum “could be triple (from) where it is as well.”.

The investment guru claims that "probably over 20 percent" or "maybe even 30 percent" of his net worth is in cryptocurrencies, split roughly in half between bitcoin and ethereum. Novogratz expects that to increase by about six times to $2 trillion by the end of next year.

Demand from Asia, mostly from Japan and South Korea, has been the most significant contributor to bitcoin's gains since China halted all exchange-based crypto trading. Novogratz says that in contrast to oil and renewable energy products, companies cannot produce more bitcoin to meet demand since the digital currency's supply is limited to 21 million coins.

https://www.rt.com/business/411151-bitcoin-price-level-2018/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

This is a good news specially for people who really trust bitcoin. Personally seeing bitcoin to reach at least half of what he predicted is fine.

[fanbeila]

The world’s most valuable cryptocurrency bitcoin can quadruple in price from the current record high of $10,000 in the next 13 months, predicts former Fortress hedge fund manager Michael Novogratz. On Monday, the digital currency smashed the $10,000 mark on South Korea’s Bithumb, one of the world’s biggest exchanges for cryptocurrencies.

Bitcoin started the year at below $1,000 and has since jumped more than ten-fold. According to Novogratz, by the end of 2018 bitcoin’s rival ethereum “could be triple (from) where it is as well.”.

The investment guru claims that "probably over 20 percent" or "maybe even 30 percent" of his net worth is in cryptocurrencies, split roughly in half between bitcoin and ethereum. Novogratz expects that to increase by about six times to $2 trillion by the end of next year.

Demand from Asia, mostly from Japan and South Korea, has been the most significant contributor to bitcoin's gains since China halted all exchange-based crypto trading. Novogratz says that in contrast to oil and renewable energy products, companies cannot produce more bitcoin to meet demand since the digital currency's supply is limited to 21 million coins.

https://www.rt.com/business/411151-bitcoin-price-level-2018/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

We exactly don't know what would be the price of bitcoin after 13 months,but such posts would definitely irritate people like jamie dimon and others who always criticize bitcoin.But since bitcoin price has increased 10 times within eleven months,$40,000 within 13 months seems to be an achievable price for bitcoin.

[JTPhotography]

OP, why did you edit the article down the way you did?

[Abebittalk23]

To be fair if you think of bitcoin in terms of general awareness it is very low to the everyday American, let alone the rest of the world. So if you look at the current market cap required for it to be worth 10k it would be 167 billionish? And that could be with minimal awareness compared to 10 years from now. I suspect bitcoin, being a non replenishable resource, could hit over 1 trillion dollars globally in market cap in 10 years time. If it does reach that point bitcoin could be near 60k per coin, but I do not expect to see another 10 times growth year for bitcoin unless it crashes.

[btc_angela]

I wouldn't be surprised with Mike's predictions on bitcoin and even ethereum. He has a lot of vested interest, that's why he is very bullish about it and pushing the price with his every interview. Anything could happened now I guess with how bitcoin grow from this year alone. With institutions and other industries getting into the picture, no wonder bitcoin will not only surpass $10K in 2017 but can go even further in the next coming years.

Japan and South Korea are really pushing the price lately and this trend will likely continue and we may see another big country entering the market similar to Japan that will put bitcoin into another level. I have no doubts that $40K will be hit in the future, it will be just a matter of time.

[buwaytress]

I won't make an opinion about the Bitcoin price, but I am getting sick of the "man who predicted something that came true" reputation.

It is so easy to get such positive reputation. There are 1300 cryptocurrencies. Make 1300 predictions for every one of them to be 100x, then delete all your false ones and here we go - the next big prophet. Crypto Jesus.

Right on. The only benefit all this speculation gives is for us to shoot the wind. It's so easy to predict this and that, I'm pretty sure in this forum alone we'd have hundreds lining up to show off old posts from years ago saying 10k and then what, we take their next prediction as gospel truth? Reputation is only as fresh as yesterday, and true crypto and Bitcoin advocates hardly spend time speculating on price.

I think it's time for Bitcoin users to refocus efforts on the tech, and support/encourage further core development. This heady highs have made us forget how close we came to everything falling apart.

Free media attention, free hype, free reputation. If this isn't a build up to this guy's next ICO or influx of new clients, then I don't know crypto anymore.

[Aamir1]

I won't make an opinion about the Bitcoin price, but I am getting sick of the "man who predicted something that came true" reputation.

It is so easy to get such positive reputation. There are 1300 cryptocurrencies. Make 1300 predictions for every one of them to be 100x, then delete all your false ones and here we go - the next big prophet. Crypto Jesus.

I totally agree with this. Making a lot of predictions and one of them coming true is not a big thing. Even i can make hundreds of predictions about Bitcoin and for sure one of them will become true in future, but that doesn't mean i'm a person who knows the future or whose words can never be false. I don't say that i don't want Bitcoin to go that far, but i don't like people predicting such high numbers in such a short time. Just because Bitcoin reached $10k from $1k in a year, it doesn't mean that will happen again in the coming year too. If that was supposed to happen all the time, do the math and imagine what the price of Bitcoin would have been by now.

[seasonw]

$40,000 estimation is pretty low from all the expert talks that I have ever heard. I remember I read somewhere mentioned an expert foresee $300k...

[warwar]

The world’s most valuable cryptocurrency bitcoin can quadruple in price from the current record high of $10,000 in the next 13 months, predicts former Fortress hedge fund manager Michael Novogratz. On Monday, the digital currency smashed the $10,000 mark on South Korea’s Bithumb, one of the world’s biggest exchanges for cryptocurrencies.

Bitcoin started the year at below $1,000 and has since jumped more than ten-fold. According to Novogratz, by the end of 2018 bitcoin’s rival ethereum “could be triple (from) where it is as well.”.

The investment guru claims that "probably over 20 percent" or "maybe even 30 percent" of his net worth is in cryptocurrencies, split roughly in half between bitcoin and ethereum. Novogratz expects that to increase by about six times to $2 trillion by the end of next year.

Demand from Asia, mostly from Japan and South Korea, has been the most significant contributor to bitcoin's gains since China halted all exchange-based crypto trading. Novogratz says that in contrast to oil and renewable energy products, companies cannot produce more bitcoin to meet demand since the digital currency's supply is limited to 21 million coins.

https://www.rt.com/business/411151-bitcoin-price-level-2018/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

This is a good news specially for people who really trust bitcoin. Personally seeing bitcoin to reach at least half of what he predicted is fine.

Agree with just the half of what he predicted is seems fine to me because we all know that the price of what he predicted is really high and we are really glad with that and also who invest and hold bitcoin over the time because that is a really high profits. We cant really predict when will it happen but we all know that it will be happen soon but not in exact date

[scottykarate]

To be fair if you think of bitcoin in terms of general awareness it is very low to the everyday American, let alone the rest of the world. So if you look at the current market cap required for it to be worth 10k it would be 167 billionish? And that could be with minimal awareness compared to 10 years from now. I suspect bitcoin, being a non replenishable resource, could hit over 1 trillion dollars globally in market cap in 10 years time. If it does reach that point bitcoin could be near 60k per coin, but I do not expect to see another 10 times growth year for bitcoin unless it crashes.

Wait until it is used in ETFs and on Forex. The market cap couple climb rapidly. Most of this gain is without many truly big fish, no awareness until very recently and just some savvy investors here and there.

[Stac]

True that there is good potential for the bitcoin network to surpass $40000 or even more than that as the value of bitcoins in the early stages since its inception has shown a huge leap in the bitcoin market which has attracted more bitcoin and block chain user's to the crypto market as a whole, the word of bitcoins has reached all over the world and every day new users are entering the crypto community which brings the world to a more digitalized planet.

[plpatel]

Looking at the current price spurt in the Bitcoin price, achieving of $40,000 cannot be discarded. As everybody were expecting Bitcoin price to touch $10,000 in year 2018, but is achieved earlier than the expectation. Likewise, sooner or later  Bitcoin price could achieve $40,000 or even can go beyond that.

[teilwalL05]

In my opinion it could and could not, actually it is really hard to predict for now the possibility of getting at $40,000 mark because of the recent pump bitcoin did it increase so much in just week, and we can not make it to the $40,000 mark because the price is too far yet, and bitcoin is fluctuating so much that it can fluctuate up or down depending on the mood of bitcoin if there are dumps or buying involve with its market.