Mike Novogratz Drops New Post Halving Predictions For BTC and ETH
The Bitcoin halving took place a couple of days ago, and the whole community was excited.
Even though some analysts were expecting to see some massive price moves ahead of the halving, this was not the case – all we’ve seen has huge volatility.
At the moment of writing this article, Bitcoin is trading in the green and the king coin is priced at $8,904.39.
Bitcoin’s price will continue to surge
Mike Novogratz says that Bitcoin will continue to go up following the halving but Ethereum will have to make some efforts in order to catch up.
During a brand new interview on CNBC’s Fast Money, Novogratz said that he is expecting an increasing number of institutional investors to buy BTC.
This comes right after billionaire Paul Tudor Jones called the BTC the fastest horse in his portfolio.
“I would expect the market to hold here at $8,000 [or] $8,500 and to start trading right back up. We’re seeing in our shop a huge increase in interest in Bitcoin, in getting into crypto from high-net-worth individuals, from funds… It feels like a herd is on its way, finally,” Novogratz said.
He continued and posted: “I’ve been waiting and waiting for the institutional side. I think this [Paul] Tudor Jones news is very big news because in some ways, it takes the career risk of looking dumb out of buying Bitcoin.”
Ethereum will reportedly follow Bitcoin’s lead
Novogratz is also confident that ETH will follow BTC’s footsteps, but it will take a bit longer for it to grow.
“The other projects, Ethereum being the most promising and second-biggest, really continue to need to develop the underlying technology, so it’s used more often… As the Ethereum project grows, I think the value will go up.”
We recommend that you check out the video below in order to see what more Novogratz had to say.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.