Mike Novogratz expects the fall of bitcoin to $ 8,000


Last week, the former head of Fortress Investment Group Mike Novogratz said that his new cryptocurrency fund is ready for opening. Novogratz was going to open the fund in 3 days, and claimed the bitcoin market had not yet reached its peak. He also noted that he expects  in the next 2-3 months the rate will grow to $ 40,000, but the current correction has made changes in his plans.

Yesterday in Twitter Novogartz wrote:

“It seems that we have reached a short-term peak. My gut says that for a while we will stay between levels $10,000 – 16,000. The extreme value may be $ 8,000. But this is not the end of the high market. Just a pause.”

Novogratz is known for his optimistic forecasts regarding the courses of cryptocurrency. Earlier, he stated that in 2018 the price of bitcoin could reach $ 40,000, and Ethereum – $ 1,500.

Among other things, yesterday he spoke about one of the factors that influenced his short-term forecast.

“It’s always worth paying attention if an insider sells,”  Novogratz wrote, referring to Charlie Lee, the creator of Litecoin, who recently eliminated all of his savings in LTC.

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