CNBC Just Can't Stop Talking About Bitcoin (and calls for Bitcoin 40K)
On CNBC's Fast Money show yesterday they had on Mike Novogratz, Galaxy Investment Partners CEO. In August he was calling for bitcoin 10K within the next 4 to 6 months.
As we are just a stone's throw from that number the show host asked him what his thoughts for 2018 were.
Valuation Versus Gold
Many people consider bitcoin the gold of crypto as it is used as a store of value more than a transactional currency.
So that is the comparison often made when coming up with valuations for bitcoin. Being that the gold market has a $7.8 trillion valuation how much room is there for bitcoin?
Apparently a lot!
Here is the link to the interview...
FYI...
When talking about the cryptos his fund is invested in - the typical BTC, LTC, ETH was mentioned. However he also listed EOS! That is the first time I have ever heard EOS mentioned on TV.
Some things I use:
- 1broker to trade stock and currency using my bitcoin
- Bitconnect to earn daily interest lending bitcoin (risky investment though)
Best Regards,
Disclaimer: All content in this post is my opinion and for informational purposes only.
People have called John MacAfee a lunatic for predicting Bitcoin will be worth $500,000 by 2020, so by comparison Mike Novogratz's prediction feels very tame.
My favorite analogy is a nuclear reaction. It takes effort to start splitting atoms, but once critical mass is reached, you have to literally contain the reaction to stop it from snowballing into a meltdown. I see Bitcoin in the same light; the closer it reaches critical mass, the more downward pressure will be required to stop it from skyrocketing into 6 figures, and it will happen fast. Going from 1000 to 10,000 is actually harder than 10,000 to 100,000, because there is more confidence the higher it goes. It will peak at some point, but 10k is probably just base camp for now.
Bitcoin ------Like a train without brakes.
Sounds good to me!
Thank you for the link. I had not seen that. EOS is the one thing that I am missing in my portfolio. I am starting to get a decent amount of STEEM and am rather happy with my BTS position, but EOS is non existent.
As for CNBC, they mirror what Wall Street is thinking....they are all over crypto and BTC in particular. 2018 is going to be a wild rid....we are going to see some huge jumps in price.
Yes, next year should be real interesting. I just grabbed some EOS a couple weeks ago. I have more than enough SP, wish Steem performed as well as the other alts. I don't have any BTS may need to grab some.
hehe this is funny
---Bitcoin is a train without brakes---
CNBC is stupid. I made a piss ton of cash shorting bank stocks in 08 and 09 when told told me not to. They can kick rocks as far as I'm concerned, regardless of what they're paid to say.
Great watch bud. Resteemed. It's really interesting to see such a discussion on CNBC. I was waiting for the cable to be pulled mid broadcast!
Yeah, the mainstream media is all over BTC now, which means the real mania has just begun. We have a year of crazy ahead of us :-)
I noticed you mention that in your show yesterday. Exciting times when you frame it that way... and equally a little hard to believe. Like you say, opportunities like this don't cross the desk often 😎
A market cap of even half of the gold market would be 10x what we have now. Shows just how much higher we really can go!
Call me a "Scaredy-Cat" but lending my bitcoins thru Bitconnect i s too risky for my level. Cryptocurrencies are risky enough in general, yet alone a pyramid plan like Bitconnect.
But that's me. You nailed your $10K prediction; I'm predicting $38K for Bitcoin by end of first Quarter 2018.
Wow, I hope your Q1 prediction is right. That would be wild! As for the bitconnect thing. Honestly, I put gambling money into it. The same amount of money I'd put on the craps table in Vegas is what I put in bitconnect. Except this time I'm actually winning some money ;-)
5-10% of a portfolio should be in "speculative stuff" so 5% of my crypto portfolio is in bitconnect. I've been in it for 3 months and have already earned all my money back so free-rolling now :-) When it blows up in a year I'll be content cus I'm pulling money out consistently. Those who don't are the ones who lose, greed is bad.
If you decide to do it let me know and I will send you the referral bonus I get.