The air show CNBC Fast Money CEO Galaxy Digital Mike Novogratz talked about the growth of Bitcoin at the end of 2017 and compared it with the pump Ripple last week. Novogratz suggested that Aldon increased due to the carelessness bears and too a large amount of open short positions. This writes AMBCrypto.
Like Ripple than Bitcoin
The first question of the interview touched on the topic of predictions of Bitcoin prices in December of last year. Mike asked whether he believed in 40 000 per BTC by the end of 2017. It turns out, Novogratz made a very good deal — he sold almost all of its bitcoin near the peak of Bitcoin prices.
According to him, in December the market is “very hot” and the situation became too dangerous. Such a dramatic increase could not lead to very strong correction.
During bullrun holders altcoins is also enriched. Almost every coin has brought several (and sometimes dozens) of x to its investors. The growing trend do not need to study market and to choose prospective projects — simply buy a top Altos every month.
Now this tactic is not working. That’s why stunning the growth of the Ripple was a real surprise.
Listen, Ripple is building a team of good business. Coin develops, but I just don’t understand how something can rise three times in a matter of days. Perhaps his role was played by the sharp increase in buyers, the new force led to a mass liquidation of shorts that sent a ripple’s price even higher.
But for Bitcoin at the Novogratz is always an explanation. The expert said that the newly bought huge amounts of coins at the lowest prices. If its forecasts regarding the major cryptocurrencies will come true, Novogratz will earn a lot of money on the investment.
At the moment the Ripple effect of a higher level of 0.5 dollar continues to teeter on the support. Recall altcon may rise even higher against the background of news about the launch of xRapid.
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