[2018-12-19] Bitcoin Price Recovers Above $3.7K as Novogratz Predicts No Further

[ruthbabe]

BITCOIN PRICE RECOVERS ABOVE $3.7K AS NOVOGRATZ PREDICTS NO FURTHER LOSSES

Cryptocurrency merchant bank Galaxy Digital CEO Mike Novogratz repeated his faith in the Bitcoin price December 18, forecasting no further big losses.

NOVOGRATZ: ‘THIS ISN’T TULIPS'

In an interview with Bloomberg, the investment mogul said he was “fairly convinced” a “digital store of value” would emerge for the world, and that it would be Bitcoin.

For the “foreseeable future,” Bloomberg reports him as saying in further comments, the Bitcoin price should lie between $3000 and $6000 after dropping 50 percent in the past month.

“We had a bubble, it popped, we’ve had a monster correction,” Novogratz summarized.

“…You’ve had the correction. A lot of people say, ‘This is tulips;’ it wasn’t tulips. It was a mania built on something that’s real.”

https://youtu.be/IQLNcCxV8Fw

Bitcoin price $3770.15 -0.04% staged a rally through the first half of this week, climbing around 14 percent since the weekend to currently circle $3700.

At its lowest point the week prior, BTC/USD fell below $3130, sparking subsequent warnings from trading veteran Tone Vays that a test of long-term trend lines could spark an imminent rundown to $1300.

‘EASY TO SMASH IT NOW’

“Bitcoin is going to be between $3000 and $6000 and hopefully next year we’ll start to see the move up,” Novogratz continued, saying that under current conditions, macro trends were “more exciting” than cryptocurrency markets.

   "It’s easy to smash it right now, but if you look at it from a broader perspective, it’s pretty cool.

Altcoins had profited more from the bounce in Bitcoin price, having fallen further during the previous deflation. A surprise leader at press time came in the form of Bitcoin Cash (BCH), which led the top twenty assets by market cap to post 25 percent daily gains.

Bitcoinist recently released an interview with BCH’s major proponent Roger Ver, in which he remained coy about the asset’s financial buoyancy and various controversies.

Asked about his price predictions for 2019, he replied: “I don’t know, and neither does anyone else.”


Source:  BITCOINIST

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[erikoy]

Yes because of so many speculations there could be one that will going to predict correctly. Others had gone predicted that bitcoin will gone down to 2.5K USD which for now more or likely it will not going to happen. Since market price for bitcoin has probably faced its bottom line which is 3.2K USD and now well just have to wait and see if it is a bull run or a bull trap.

[Kemarit]

Just as expected, perma bulls like Mike Novogratz will again emerge and say that we have reach the bottom and there's no way for the price but to go up. It's too early to say if we indeed have reach the bottom or if this is just another bull run because we have same the pattern repeating again and again so I would still be cautious but its good to see the price going green for the past couple of days that might give investors some confidence to try and test out the market again.

[squatter]

Just as expected, perma bulls like Mike Novogratz will again emerge and say that we have reach the bottom and there's no way for the price but to go up. It's too early to say if we indeed have reach the bottom or if this is just another bull run because we have same the pattern repeating again and again so I would still be cautious but its good to see the price going green for the past couple of days that might give investors some confidence to try and test out the market again.

My thoughts exactly. It doesn't inspire much confidence when he just repeats the same thing every time the price falls. We all get it, Mike -- you're a Bitcoin bull and every bottom is "the bottom." But you should probably stop promising people "no further losses" in the middle of a painful bear market.

He sounds like a broken record.

[rodskee]

Bitcoin price onc again a little good sign for the price increase
But i am not against for the prediction but i believe without prediction and speculation
Bitcoin is a volatile digital currency ao nothing surprises move their price up and down

[Ozero]

If the price of Bitcoin in the near future increases to $ 6,000, it will be very good for the whole cryptocurrency in any case. Now the main thing is to prevent a decrease in its price or even further stagnation. Then you can hope. that the market will gradually recover and the next year will be much better than this one.

[glowing10]

If the price of Bitcoin in the near future increases to $ 6,000, it will be very good for the whole cryptocurrency in any case. Now the main thing is to prevent a decrease in its price or even further stagnation. Then you can hope. that the market will gradually recover and the next year will be much better than this one.

Market has just begun to rise and it has a long way to go before entering the 10k zone which could be soon or in 2019 need to wait and see. But people are now started to realize that the bull run might soon begun and if people do not want to miss that rise than should buy now or continue to hold your coins.

[hatshepsut93]

We've seen it multiple times in this year already, these perma-bulls saying that we've passed the bottom of the current bear market and that recovery had officially begun. The lesson here is to never listen to so-called experts and analysts, especially if they come from some news sites. At least try to use specialized resources, but better form your own opinion based on information from multiple sources.

[buwaytress]

Just as expected, perma bulls like Mike Novogratz will again emerge and say that we have reach the bottom and there's no way for the price but to go up. It's too early to say if we indeed have reach the bottom or if this is just another bull run because we have same the pattern repeating again and again so I would still be cautious but its good to see the price going green for the past couple of days that might give investors some confidence to try and test out the market again.

The bad news I guess is that it's when these guys maintain their outlook, albeit shaved down many times and repeatedly, that Bitcoin tends to do the opposite. I'd have just loved to see BTC keep at the rate it was going so just squeeze the life out of all these experts and their predictions. Now we'll see those just about to release their holdings now keep an extra finger on it. You know it's good when everyone says it's bad... and we're not quite yet at that stage where everyone says it's bad.

Typical smugness about these guys but they're not sleeping a wink yet.

[1Referee]

The lesson here is to never listen to so-called experts and analysts, especially if they come from some news sites. At least try to use specialized resources, but better form your own opinion based on information from multiple sources.

We're more or less equal to each other in this market unless you are a market mover. No one is going to provide you any sort of help or guidance on what to think or do during the current market. People are champion in claiming to have predicted this or that event or price level, but they conveniently not tell you how often they have been wrong before that. If you keep making predictions, eventually one or two will hit the target. It's luck.

I want to see people put their money where their mouth is, and as long as that isn't the case, they are talking shit just to boost their social media following.

How difficult is it to tell the outside world that you simply don't know what the price will do? 

[Buttermellow]

It has even surpassed now to 4K USD per BTC. It is just like that the team for BTC had put first their investment before others to hold. Definitely there is a playing here with bitcoin market price. Hopefully that bitcoin will be regulated and for that no one will be able to change market cap volume for bitcoin even the team that are managing the system.

[BitHodler]

Hopefully that bitcoin will be regulated and for that no one will be able to change market cap volume for bitcoin even the team that are managing the system.

Regulations aren't a stop to manipulation, we have seen that with traditional assets. People need to accept that manipulation is all relative, because not every large market movement is the result of manipulation.

Bitcoin's market lacks the liquidity to eat through concentrated sell orders, especially if there happens to be a large sell off due to stop loss orders being triggered, and it happens quite frequently. It's part of every market.

The price currently hovers over $4000 with decent volumes globally to back it, so it's interesting to see how long it will hold. I'm more worried about what's going to happen in January to April.

I'll keep dollar cost averaging...

[BattleField]

Yes because of so many speculations there could be one that will going to predict correctly. Others had gone predicted that bitcoin will gone down to 2.5K USD which for now more or likely it will not going to happen. Since market price for bitcoin has probably faced its bottom line which is 3.2K USD and now well just have to wait and see if it is a bull run or a bull trap.

Even the BTC drops below $2500, that will be very brief period. It is the same for the Bitcoin Cash.

[Slow death]

“Bitcoin is going to be between $3000 and $6000 and hopefully next year we’ll start to see the move up,”

I believe that more than 60% of the people who deal with bitcoin have already considered this hypothesis, so this is not a big price forecast. but it's worth remembering the past:

After ‘Taking out’ $6,800, Bitcoin Will Hit ‘New Highs’ In 2019, Says Galaxy Digital’s Novogratz

“Bitcoin has to take out $6,800, and after that we could end the year at $8,800-9,000,” he said.

today is 21 December 2018

current bitcoin price is: $4000

another prediction that he will fail, I wonder how these guys have become very rich