Bitcoin won't top $9,000 by year's end, Novogratz says

[bintangkejoraku]

We have barely two months to end the year and as the price is still trading below 7000 usd, it will be impossible for bitcoins to get to 8000 before 2019 and I cant see any forces that can impact bitcoins to accelerate so high for it to get to 9000

I see ETF are the last weapon to rise high, if the ETF is accepted I am very confident that the price of bitcoin will rise very high and will be the beginning of a bull run.

[sunanbonang]

I see ETF are the last weapon to rise high, if the ETF is accepted I am very confident that the price of bitcoin will rise very high and will be the beginning of a bull run.

I see that many people believe that if ETFs are to be accepted and I am part of them, I am very sure that ETFs will produce positive news for bitcoin.

[gentlemand]

I see ETF are the last weapon to rise high, if the ETF is accepted I am very confident that the price of bitcoin will rise very high and will be the beginning of a bull run.

An ETF, a proper custodial one using real coins, would make a future bull run more powerful as it would allow more money to get in with greater ease. It would not create one. If one arrived right now we'd get a brief uptick and then back to business as usual.

It would be a small building block for future action, not the cornerstone to spark all of it instantly.

[bitbunnny]

I agree that Bitcoin will not reach 9000$ by the end of this year. About two months ago I would say it is possible but now I'm not convinced anymore. We are running out of time and the price and the market are not showing indicators that some big change will happen.
ETF would definetely help for price to recover but as many times so far the decision will probably be postponed, that us my opinion.
And the question is also would ETF influence price on long term or just intiate short term jump.

[bbc.reporter]

@bitbunnny. No, check bitcoin's price between November 15 or 16, 2017 and December 16, 2017. That's how fast bitcoin goes to new highs.

In any case, it might not go to new highs but it can go to $10k, I reckon.

[jonatuzc]

We have barely two months to end the year and as the price is still trading below 7000 usd, it will be impossible for bitcoins to get to 8000 before 2019 and I cant see any forces that can impact bitcoins to accelerate so high for it to get to 9000

We can’t predict anything about bitcoin but if we consider the facts and figures of last year with this one, we are standing at some exact numbers where we were last year. This is seven thousands family where are revolving around like in last eight or nine months. And I don’t agree here, bitcoin would rather jump towers high altitude and we would be seeing some huge increase in amount this December.

[eaglewhite80]

We have barely two months to end the year and as the price is still trading below 7000 usd, it will be impossible for bitcoins to get to 8000 before 2019 and I cant see any forces that can impact bitcoins to accelerate so high for it to get to 9000

We can’t predict anything about bitcoin but if we consider the facts and figures of last year with this one, we are standing at some exact numbers where we were last year. This is seven thousands family where are revolving around like in last eight or nine months. And I don’t agree here, bitcoin would rather jump towers high altitude and we would be seeing some huge increase in amount this December.

Well, it is the market, we can all make speculations, but the fact remains that time and trend will always end up giving us the answers to our optimism or pessimism as the case may be. I would not be so disposed to the idea that the market may not be able to go above $9k, knowing how surprising this market can be with movement, but I will let the future decide that actually.

[okala]

What happened? Have the bitcoin bulls turned into cows? hehehe

Also, I predict that Tom Lee will also announce the same statement as Mike Novogratz's. There is nothing wrong in making mistakes, but the public already knew that it was a mistake before he could admit it. That is a good example of the mentality of a bagholder.



Former Fortress hedge-fund manager Michael Novogratz doesn't see much chance of bitcoin breaking out of its current slump.

"I don't think it breaks $9,000 this year," Novogratz said on stage at the Economist Finance Disrupted event in Manhattan Tuesday.

Novogratz, who predicted last year that the cryptocurrency could swell to $40,000 in 2018, said it will take until the first two quarters of next year for bitcoin to move above $10,000.

Read in full https://www.cnbc.com/2018/10/03/bitcoin-wont-top-9000-by-years-end-former-hedge-fund-legend-novogratz-says.html

He has said his mind and I strongly believe that the market has it own mind too.  I don't know why I have this believe that bitcoin is currently undervalued and we need more volume to push the market above $10,000 and some of this big guys hold alot of this bitcoin which they are holding to manipulate the market up and down. If you follow them then you will need to do what they do.

[GregH37]

I agree that Bitcoin will not reach 9000$ by the end of this year. About two months ago I would say it is possible but now I'm not convinced anymore. We are running out of time and the price and the market are not showing indicators that some big change will happen.

I won't be so quick to want to accept that, considering that this is something we can hardly know, and for the fact that bitcoin has surprised so many times before. Also, I would not even bother about how ETF will be influencing anything at all at the moment, but one way or the other, lately, what I have been so quick to come to terms with is to just see what the trend comes up with. We can be hopeful, make assumptions, or be pessimistic, but at the end of the day, time will bring what it wants to bring for the market in the long run, and that to me is all that matters at this stage, but I would not be surprised if bitcoin gets above $9k.

In any case, it might not go to new highs but it can go to $10k, I reckon.

Yes, although, we also have to consider the fact that bitcoin was in an uptrend throughout last year, so that made it easy to get that movement instigated and possible. As far as I am concerned though, I am pretty optimistic this year could still bring something a bit cool but not too much but how far it goes is something we best live with time. When it comes to seeing the market getting pumped though, we have seen it before and really, I would not be surprised to see that happen actually when it comes to setting some new highs above $9k.

[yonjitsu]

If you are going to speculate bitcoin's market price before we enter 2019, a 9,000$ mark may be a very tough resistance for bitcoin to break because until now, bitcoin is still hovering at the 6,000$ mark.

[JohnBitCo]

We have barely two months to end the year and as the price is still trading below 7000 usd, it will be impossible for bitcoins to get to 8000 before 2019 and I cant see any forces that can impact bitcoins to accelerate so high for it to get to 9000

If the bitcoin does move up in these last two month of this year, it will disappoint people and people will be dishearten and will leave the crypto as everyone is hoping to seeing one final bull run at this year end. Unfortunately we are not seeing any reason of happening it though. 

[Hilly]

Even big names know that it doesn't have chance to reach $9000 this year, what more do we expect if this bearish market continue to act like this? The only bull run that we were waiting is expected to be on next year or after the halving in 2020 but who knows, we might get a support from the SEC for accepting ETF before this year ends.

I also don’t believe that it will reach to $9000 this year. There is no demand for bitcoin like the previous year, but people still want another bull like the previous one. First we should increase demand for bitcoin and it is possible only when we play our role for the promotion of bitcoin throughout the world. The more the investment the high will be the price.