Mike Novogratz: Bitcoin Is Heading Towards A Price Of $ 40,000 In 2018

  believes billionaire hedge fund executive and former director of " The Fortress " Mike Nobograts, that the price of bitcoin will reach easily to the price of $ 40,000 by the year 2018 , where he "Nobograts" CNBC's optimism towards both bitcoin and Etereum in the medium term , He had previously expected the price of the Bitcoin to reach $ 10,000 before the end of 2017. He said that the price of Bitcoin will increase by about four times by the end of 2018, while the price of Ether will triple the current value. 

Why seems " Nobograts " confident too of this?

Earlier this year, Novogratz officially retired from the traditional finance industry to focus only on digital currency investments. Over the past few months, he has spoken with many institutional investors, who are already preparing to engage in the currency trading by the end of this year, following the launch of CME Futures. Novogratz also noted that there is a large wave of investment institutions coming to the Bitcoin market from around the world, which include many major companies such as Man, which manages $ 95 billion, and Fidelity, an investment company that manages assets worth more than 3.2 trillion dollars. This in turn encourages more investors to enter the Bitcoin market. He explained that saying:

"There's a big wave of money on its way to this market, not just here but around the world. In which these digital currencies differ from other commodities, is that there is no response to the presentation here. So it's the dream of every speculator, so every step of the price is exaggerated. "

 the distant future. This week, engineer Jameson Loeb at BitGo said that major corrections could occur during a process that develops Pitcairn to push the market value to a trillion dollars. While Loeb said it must be recognized that even the sharp correction movements such as a 50 percent drop in price, will hinder the price of Bitcoin for no more than two months.  

Can the price reach $ 40,000 by 2018?

The price of Bitcoin in 2017 alone rose by 11 times, from about $ 900 to $ 9,700. Compared to an increase of 11 times the value, the four-fold rise in price seems more realistic and is also likely. The bitcoin market was driven through 2017 by ordinary consumers and investors, and practically no institutional funds were invested in the bitcoin. But by 2018, experts including Novogratz predict that tens of billions of dollars will be invested in the bitcoin, which will push the market value to a trillion dollars.