Bitcoin Price All Set For A Major Overhaul As Experts Keep Sky-High Expectations
Bitcoin price curve has been going stagnant for quite some time now. However experts hold the view, that a price bump is on the way. Mike Novogratz , the former hedge fund manager of Fortress Investment Group turned cryptocurrency investor was recently quoted as saying, “I’m pretty confident to say it’s going higher. It would not surprise [me] if in the next six to 10 months we’re over $10,000.” Mike Novogratz is also oftenly being referred to as “Hedge Fund Legend”
This recent interview given by Mike was published in CNBC‘s “Fast Money” segment amidst last week’s announcement by experts that Bitcoin price might soon topple over the $6000 mark by year end. However the interim volatility still poses major threat to this major crypto form’s dream run. Click here to watch the video.
However Mike is not much perturbed about this volatility. He feels that, :
“Yes, it’s a bubble, it’s going to be one of the great manias of all time. Bitcoin happens to be the bellwether of this entire decentralized revolution, so it’s the easiest way people get gain exposure to it. Things like Ethereum I think will be the public utility of this new space.” This blockchain revolution, he added, would “change the way we live.”
He has often been seen drawing comparisons in between Bitcoin and digital gold. He has accumulated funds worth $500 million for channelizing into cryptocurrency investment. He has also invested about $150 million into Galaxy Digital Assets Fund and is planning to raise the rest from outside investors like fellow hedge fund managers and wealthy individuals within January.
Recent turn of events such as Russia’s cryptocurrency ban have created an influx of negative sentiment in the market for digital currency. However the latest Bitcoin price curve do not reveal any signs of backlash with its upper $4000 closing mark following Monday’s all-time high. The cryptocurrency ban proposed by Russia comes in the aftermath of similar drive taken by Chinese and South Korean financial regulators.
Recently, Taiwan took the opposite road from China and South Korea. Taiwan supports development of Blockchain technology and cryptocurrencies and take a pro-Bitcoin stand.
Jamie Dimon, the CEO of JPMorgan Chase voiced his concern over Bitcoin being a “fraud” last month. However, whether or not Bitcoin sustains the test of time, Blockchain technology is here to stay.
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