Novogratz recently had a moment of bearish sentiment, suggesting that Bitcoin wouldn’t break $9,000 before the end of the year, and was targeting the second quarter of 2019 when Bitcoin could break $10,000.
However, the negative sentiment appears to have passed, and he’s now suggesting that break of important psychological resistance at $10,000 will occur during the first quarter of 2019 – a break he expects to start the next bull run, potentially beating previous highs.
“By the end of the first quarter we will take out $10,000 and after that we will go back to new highs — to $20,000 or more,” Novogratz speculated.
Novogratz had famously predicted Bitcoin reaching $40,000 before the end of 2018, double its previous all-time high of nearly $20,000 it reached back in December 2017. Novogratz later changed his tune due to the severity of the continued downtrend keeping cryptocurrency prices at bay.
How many changes of tunes does he need in order to get the right prediction?
I guess everyone simply rushes to the good news whenever a prediction becomes correct, but what they ignore is that the predictions which these self proclaimed experts make are constantly shifting, and old ones essentially become void and gets never talked about again.
This is exactly what is happening with Novogratz. He knows that he was wrong about the super bullish $40k prediction, and shifted his stance to bearishness, then reshifted again. That's why I absolutely never listen to these people, they don't even use TA in most instances and even if they do, it's worthless pieces of information. Everyone has their own agendas and their own storyline or narrative to tell.
Anyhow, I don't think it's very likely that we'll see the bull run happen this quickly, I believe that the majority of next year will still be quite sluggish.
