@xiti - The legend of hedge fund Billionaire and former Fortress executive Mike Novogratz believe bitcoin prices will "easily reach" $ 40,000 by 2018.

At CNBC's Fast Money, Novogratz expressed its optimism toward both bitcoin and Ethereum in the mid.Novogratz, which estimates the bitcoin price to reach $ 10,000 by the end of 2017, states that the bitcoin price will double by the end of 2018, and the genuine Crystallic Ether, , will be worth threefold.

"Bitcoin can reach $ 40,000 by the end of 2018. Eveeere easily, which I think only touch $ 500 or closer, it could be a triple where the price is too," said Novogratz.

Why Novogratz So Sure?

Earlier this year, Novogratz officially retired from the traditional financial industry to focus solely on cryptocurrency investment. Over the past few months, Novogratz has spoken with many institutional investors, who are preparing to trade bitcoin by the end of this year, at the launch of the CME bitcoin futures exchange.

Novogratz notes that "a large wave of institutional investors" goes into bitcoin markets around the world, with some big companies like Man Group and Fidelity Investments worth $ 95 billion, which manages $ 3.2 trillion in assets, bringing investors to the bitcoin market.

"There's a big surge of money coming, not just here but all over the world.What's different about this coin besides other commodities ... there's no supply response here.So, this is a speculators dream because buying happens no new offer response comes up So any price movement will be exaggerated, it will be exaggerated on the way up.There will be a 50 percent correction.This will be exaggerated on the way down. "

Novogratz is not the only investor who has forecast a major price correction in the future. This week, BitGoe engineer Jameson Lopp stated that major corrections could occur during the bitcoin process developing into a trillion-dollar market. But, Lopp insists that it is important to remember that even extreme correction such as a 50 percent price reduction will only return a two-month bitcoin price.

In bullish markets like bitcoin, most investors often fail to recognize strong demonstrations and huge price increases, and stick to occasional drops in value.

Is $ 40,000 by 2018 possible?

Year-to-date, by 2017 alone, bitcoin prices have increased almost 11-fold, from about $ 900 to $ 9,700. Compared to an 11x increase, the fourfold price spike seems more realistic and possible.

By 2017, the bitcoin market has been led by common consumers and ordinary investors. There is hardly any institutional money invested in bitcoin. In 2018, experts including Novogratz, vice chairman of Smallfury George Kikvadze, and Coinbase CEO Brian Armstrong expect tens of billions of dollars to invest in bitcoins, driving market valuations to one trillion dollars.

"Crypto Space is worth $ 300 billion, and some Personal Wealth Offices are positioning themselves to meet the newly minted crypto millionaire, that's interesting," Kikvadze writes.