Topic: [20/10/2018] Novogratz Says Cryptos Are Safe, Expects BTC to Rally In Q1 2019 - page 2. (Read 335 times)

@figmentofmyass. Agreed, and all in all, the future of banking and finance is in the cryptospace. It would be a big misstep for a regulated, multibillion dollar institution if it decided not to have their piece of it.

@gentlemand. But Mike Novogratz is a credible public figure, while we are only dirty forum cave trolls. There is a difference.

Everyone's pulling stuff straight from their botty. You can have credibility for what you do and are and still make stupid predictions. I don't really hold it against anyone. No one out there has bleedin' clue.

October is now thinking of putting its feet up and I still can't detect any signs of life. My credibility-stretching prediction is a whole lot of nothing into early next year and then we get some sphincter tightening downwards action.

Don't think unkindly of me.



Indeed. It's the flashing 'institutional' button waiting to be pressed that I find a puerile idea, yet it's still wheeled out with great regularity.

and i think we've been seeing institutional activity since around then too. the market making, the algorithm-driven trading. you may not see positions directly on jpmorgan or morgan stanley's books, but why would you? they can just spin off some no-name private equity firms. hell, goldman sachs is officially in the shitcoin brokering business with the poloniex acquisition last year.

it's happening piecemeal and will continue that way IMO.

Mike Novogratz, the person who said that bitcoin will be on $40k by the end of 2018, changes his prediction to not higher that $10k. But what if bitcoin had a sudden movement upwards to $15k? Does he need to change his prediction again? He certainly lost some credibility points there.

But I know this guy will be happy.

We've been hearing that since around 2014.

The building blocks are certainly falling into place, but institutions prey on pumps, they don't scratch build them themselves. They know perfectly well there's an army of nasty little shits who've been here for longer than they have ready to poo on any one man attempts.

Lol?

Firstly, the price doesn't represent what's happening in the background. Secondly, we have had years far worse than 2018 in terms of price action (look up the charts).

People only see what they want to see. They completey disregard that what's happening in the OTC markets. In the last 24 hours there has been more than $3.6 billion worth of transaction activity on Bitcoin's network. Considering that we're going through a bear market and the global activity is on the lower side, these on-chain value transfers indicate a booming off-exchange industry.

Interesting on-chain value activity over the last 24 hours;

Bitcoin $3.6 billion.
Ethereum $407 million.
BCash $93 million.
Litecoin $85 million.

XRP's data can't be fetched.

Source; https://bitinfocharts.com/

I see that optimism in the forecasts of growth of the cryptocurrency market for this year decreases as we move towards the end of the year. If the figures were previously called 40 000 dollars and. more as a bitcoin price by the end of the year, now the figure of 10,000 looks more than modest. Many no longer pin their hopes for this year.
It seems that 2018 will go down in the history of the development of cryptocurrency as not the most successful.

Mike Novogratz, a prominent cryptocurrency investor, and CEO of Galaxy Investment Partners has toned down his optimism, reiterating that he doesn’t expect a price surge in the price of Bitcoin until institutional adoption occurs, which could happen in the first half of next year.

Speaking with Bloomberg’s Erik Schatzker on “Bloomberg Markets: The Close,” the Galaxy Investment Partner who is known for his optimism about the future of cryptocurrencies, notably Bitcoin, said the price of bitcoin wouldn’t break $10,000 in 2018.

“One thing you learn in this process is that everything takes a little longer than you hoped it would. I don’t don’t see us breaking $10,000 by the end of the year,” he told the network.

Novogratz also spoke on Fidelity Investments’ decision to release a custodial solution tailored to institutional investors that were particular about the safety of the digital assets they purchase. He believes this move by Fidelity would favor the market, but he was a bit cautious about how much mass interest it can garner and how quick it can achieve it.

He went on to add that Fidelity won’t start “seeing institutional flows into purely crypto assets late first quarter [or] early second quarter.”

Just last month, Novogratz told CNBC that he sees bitcoin price increasing by 30 percent by the end of the year. He also said once the price rebounds to the $10,000 range, institutions will have an “‘all clear’ sign for people — big institutions and pension [funds] — to start investing.”

Novogratz has emphasized the need for a long-term rally, which he believes could lead the crypto market to a $20 trillion valuation. He also remains optimistic about the market’s ability to surpass all heights achieved in the past. He said the crypto market will bounce back from the major corrections being experienced in 2018 and surpass the previous all-time highs.

    “[Cryptocurrency] is a global revolution. The internet bubble was only a US thing. It was rich US people participating. [Cryptocurrency] is global. There are kids in Bangladesh buying coins. It is monstrous in Tokyo, in South Korea, in China, in India, and in Russia. We’ve got a global market and a global mania. This will feel like a bubble when we’re at $20 trillion,”


CCN |  https://www.ccn.com/novogratz-says-cryptos-are-safe-expects-bitcoin-to-rally-in-q1-2019/