Latest Prediction Puts Bitcoin at $10k by April 2018

Mike Novogratz says blockchain will "change the way we live."

10. 11. 17 by Dom Galeon
Getty Images
Image by Getty Images

As Bitcoin prices remain stable, experts predict a continued increase in value. In a recent interview featured in CNBC‘s “Fast Money” segment, former Fortress Investment Group hedge fund manager turned cryptocurrency investor Mike Novogratz said the rise in value isn’t likely to stop any time soon.

“I’m pretty confident to say it’s going higher,” he said on Wednesday, adding that “It would not surprise [me] if in the next six to 10 months we’re over $10,000.” Just last week, other experts predicted bitcoin prices would reach $6,000 by the end of the year, though still warning against volatility.

Indeed, many have pointed out that cryptocurrencies tend to be unstable. For Novogratz, however, this volatility is normal. “Yes, it’s a bubble, it’s going to be one of the great manias of all time,” he explained. “Bitcoin happens to be the bellwether of this entire decentralized revolution, so it’s the easiest way people get gain exposure to it. […] Things like Ethereum I think will be the public utility of this new space.” This blockchain revolution, he added, would “change the way we live.”

Despite fears of a dip in prices due to Russia’s cryptocurrency ban, recent numbers show that bitcoin prices have stayed at the upper $4,000 mark after closing at another all-time high on Monday. The Russian ban comes after China and South Korea made similar moves against cryptocurrencies and initial coin offerings (ICOs).

Advertisement

Disclosure: Several members of the Futurism team, including the editors of this piece, are personal investors in a number of cryptocurrency markets. Their personal investment perspectives have no impact on editorial content.


Care about supporting clean energy adoption? Find out how much money (and planet!) you could save by switching to solar power at UnderstandSolar.com. By signing up through this link, Futurism.com may receive a small commission.

Share This Article

Keep up.
Subscribe to our daily newsletter to keep in touch with the subjects shaping our future.
I understand and agree that registration on or use of this site constitutes agreement to its User Agreement and Privacy Policy

Advertisement

Copyright ©, Camden Media Inc All Rights Reserved. See our User Agreement, Privacy Policy and Data Use Policy. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Futurism. Fonts by Typekit and Monotype.