Michael Novogratz: Bitcoin could be at $40,000 by the end of 2018

michael novogratz prediction for bitcoin price
michael novogratz prediction for bitcoin price

Former Fortress hedge fund manager Michael Novogratz said Monday that bitcoin can breed more than four times in about the next 13 months.

“Bitcoin could be at $40,000 by the end of 2018. It could easily be,” said Michael Novogratz on Monday at CNBC’s “Fast Money.” “Ethereum, which I think has just touched $500 or so close, could be triple where it is also.”

bitcoin price prediction by michael novogratz
bitcoin price prediction by michael novogratz

Bitcoin traded near $9,656 on Monday afternoon, after hitting a record high above $9,700 the previous day, according to CoinDesk. Ethereum hit a record high of $493.40 on Monday, according to CoinMarketCap, and last traded near $482.

The total market capitalization of all digital coins at CoinMarketCap reached $304 billion on Monday. Novogratz said he expects it could increase by about six times to $2 trillion by the end of next year.

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