Investor swears bitcoin will ‘grind back’

[BassTrackerBoats]

Mike Novogratz swears bitcoin is the real deal — despite the cryptocurrency losing nearly 70 percent of its value since it flirted with $20,000 late last year.

“This is real. This is not tulips. We will have an internet 3.0,” Novogratz insisted Thursday at the Yahoo Finance All Markets Summit.

Novogratz is chief executive at Galaxy Investment Partners, a crypto-focused investment firm. He was a fixture on financial TV late last year, extolling the virtues of bitcoin as its price soared but warning of “wild crashes.”

“Last year, there was no value. It was just this frenzy, and people would throw out these great staggering numbers ‘Bitcoin’s going to $100,000. It’s going to a million,’ ” Novogratz said.

Now that bitcoin is around $6,000 for much of the last three months, he insists a comeback is on the way.

“It’s not going bounce straight back. This is going to be a grind back,” Novogratz said.

Source - https://nypost.com/2018/09/20/investor-swears-bitcoin-will-grind-back/

 

[adexnetwork]

I hope it reaches to $20,000 again one day. But it wont be soon for sure.

 

[Deleted member 813988]

It will lose another 70% of current value, then another 70% from the new value until its back to nothing

 

[patadeperro]

@jazzc Wanna jump into the article?

 

[Pakman6666]

time to buy

 

[Heromrk18]

I disagree. Historically BTC has done this since inception. There are actual real world use cases for BTC and it does make cross boarder transactions alot faster than than the 3 or 4 days it can take to transfer fiat

 

[patadeperro]

I was honestly expecting to debate and analyse this article with @jazzc but it is a very shallow article, it seems more like a desire than a well backed up opinion on behalf the investor, nothing to see really.

 

[stallion45d]

Mike Novogratz swears bitcoin is the real deal — despite the cryptocurrency losing nearly 70 percent of its value since it flirted with $20,000 late last year.

“This is real. This is not tulips. We will have an internet 3.0,” Novogratz insisted Thursday at the Yahoo Finance All Markets Summit.

Novogratz is chief executive at Galaxy Investment Partners, a crypto-focused investment firm. He was a fixture on financial TV late last year, extolling the virtues of bitcoin as its price soared but warning of “wild crashes.”

“Last year, there was no value. It was just this frenzy, and people would throw out these great staggering numbers ‘Bitcoin’s going to $100,000. It’s going to a million,’ ” Novogratz said.

Now that bitcoin is around $6,000 for much of the last three months, he insists a comeback is on the way.

“It’s not going bounce straight back. This is going to be a grind back,” Novogratz said.

Source - https://nypost.com/2018/09/20/investor-swears-bitcoin-will-grind-back/

As long as one can not buy a single slice of bread on the street with It , the real value of the Bitcoin is just pure speculation

 

[BassTrackerBoats]

As long as one can not buy a single slice of bread on the street with It , the real value of the Bitcoin is just pure speculation

My street bread seller takes BTC.

Rye, wheat, white, whole grain... he's silly about taking BTC for a slice.

 

[Heromrk18]

As long as one can not buy a single slice of bread on the street with It , the real value of the Bitcoin is just pure speculation

But you can! Several establishments here in the US are accepting crypto more and more often. I mean local establishments in my home town have btc logos by the registers... yes it is generally computer shops and video game establishments... but still it is being used. Are there better currencies? Sure... but none have the mainstream attention of BTC... I was really hoping that XRP was going to do more than just shit it self away...

 

[mickyfu]

Moon moon Lambo Lambo moon moon hodl hodl hodl, fomo fomo fomo. Look mummy I'm a trader.

 

[Heromrk18]

Moon moon Lambo Lambo moon moon hodl hodl hodl, fomo fomo fomo. Look mummy I'm a trader.

Haha this guy has it down! Hes the next crypto king...

 

[Alexande]

As a long time day trader i agree with mike novogratz on this. I think the first run we had to 20k was a retail bubble, and the institutional bubble is to come. The question is when. Imo we're heading for 5k before year end and will enter a long accumulation period where we just go sideways and most people forget about crypto, then the real run comes. This can take anything from 1-3 years imo.

 

[Heromrk18]

There is money to be made in crypto though from arbitrage trading.. korean prices are still a few points above the other exchanges... having a korean partner helps though

 

[Ollson]

I think it time to buy

 

[Heromrk18]

I think it time to buy

for someone new to the crypto game? no way... these guys are right that we will prolly see a 5k bottom before it goes sideways for a few years... i would buy around 5k myself...

 

[Ollson]

for someone new to the crypto game? no way... these guys are right that we will prolly see a 5k bottom before it goes sideways for a few years... i would buy around 5k myself...

Not a bad idea

 

[Hydius]

Mike Novogratz swears bitcoin is the real deal — despite the cryptocurrency losing nearly 70 percent of its value since it flirted with $20,000 late last year.

“This is real. This is not tulips. We will have an internet 3.0,” Novogratz insisted Thursday at the Yahoo Finance All Markets Summit.

Novogratz is chief executive at Galaxy Investment Partners, a crypto-focused investment firm. He was a fixture on financial TV late last year, extolling the virtues of bitcoin as its price soared but warning of “wild crashes.”

“Last year, there was no value. It was just this frenzy, and people would throw out these great staggering numbers ‘Bitcoin’s going to $100,000. It’s going to a million,’ ” Novogratz said.

Now that bitcoin is around $6,000 for much of the last three months, he insists a comeback is on the way.

“It’s not going bounce straight back. This is going to be a grind back,” Novogratz said.

Source - https://nypost.com/2018/09/20/investor-swears-bitcoin-will-grind-back/

The world of crypto is all about people with influence guessing.

 

[safeSEOboost]

Novogratz was/is a top trader who was self-made billionaire from trading at some point and he is long BTC. I read a while back he got in quite early. So if he still has some, he is not going to say it will go down. But I know he trades in and out of BTC, shorting and buying. He must have done quite well, I guess long in the 8 or 9 figures number (including client's money).

 

[stallion45d]

My street bread seller takes BTC.

Rye, wheat, white, whole grain... he's silly about taking BTC for a slice.

Yeah and also someone accepted a Tulip as a currency when he sold his castle in Holland during the tulip mania fever