Mike Novogratz has once again changed his mind on what he thinks the end of year Bitcoin price will be. Mike Novogratz has revised his end of year call from $ 10,000 to $ 9,000 after just two weeks.
Mike Novogratz is an ex-hedge fund manager of Fortress Investment Group. Novogratz was ranked as a billionaire by Forbes over ten years ago in 2007 and in 2008
Speaking in Manhattan at the Finance Disrupted event on Tuesday, Novogratz discussed that a lot of the downward price pressure that the markets face is driven by the industry participants needing to sell their holding of virtual assets in order “to fund the burn rate of the industry.”
Even though his reasoning behind this is unclear, Novogratz told the crowd at the Finance Disrupted event that he doesn’t think that Bitcoin will pass the $ 9,000 mark this year.