Mike Novogratz predicts an increase in the prices of Bitcoin to $40 000 by the end of 2018

The billionaire and former Manager of Fortress Investment Group’s Mike Novogratz is confident that by the end of 2018, the price of Bitcoin could grow by more than 4 times and reach $40 000. He declared it in interview to TV channel CNBC.

«Bitcoin could reach $40 thousand at the end of 2018. With ease. Ethereum, approaching the mark of $500 that can grow three times. There will be a big wave of money, not only here but around the world,» said Novogratz.

He also called cryptocurrency «dream speculator»:

«What distinguishes these coins from other goods… is the lack of supply growth. Therefore, it is the dream of the speculator… In the end, every price movement becomes exaggerated…».

Novogratz noted that in contrast to oil production and renewable energy production, companies can not produce more bitcoins to meet demand, since the supply of digital currency is limited to 21 million coins.

The billionaire also said that about 20-30% of its net assets he keeps in the cryptocurrency. These funds are distributed about equally between Bitcoin and Ethereum.

However, he does not recommend the small investor to invest more than 1-3% of the equity in cryptocurrency, and more affluent – more than 5-10%.

Earlier this month, Mike Novogratz said that the price of bitcoin will reach $10K by the end of this year, financial analyst and founder of Fundstrat Tom Lee predicts an increase in the price of Bitcoin up to $11500 by the middle of 2018.

Recall that in the last days of bitcoin showing rapid growth. November 25, the price of cryptocurrency for the first time crossed the mark of $8500, November 26 – $9000, and 27 November – in of $9700. Today, according to Coinmarketcap, BTC is traded at the rate of $9954.

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