The drop in price of the most popular cryptocurrencies has intensified over the past day, and Mike Novogratz urges investors to invest about 3% of their capital in Bitcoin

Bitcoin has dropped sharply over the past 24 hours

This happened when the day earlier the cryptocurrency showed a new maximum since the end of 2017 at $19,374. Currently, the price of BTC is $17,122.

Crypto expert Brian Kelly expressed the opinion that at the moment BTC is trading near the local maximum. He believes that in a short time, we can expect a correction in the value of the coin to $14,000 with the passage of the “bottom” at $12,000.

The analyst is sure that as a result, Bitcoin will start growing again, which will bring the crypto coin to the level of $50,000.

Mike Novogratz: Everyone should invest in BTC

The crypto enthusiast believes that the price of the popular crypto coin will grow because of investment from institutional and wealthy investors. Another factor is the adoption of cryptocurrencies by influential players in the financial market, such as PayPal and Square.

“Bitcoin’s become a macro-asset to hedge against the debasement of fiat currency both here in the U.S. and abroad. Everyone should put 2% to 3% of their net worth in Bitcoin and look at it in five years, and it’s going to be a whole lot more,” Novogratz said.

The entrepreneur believes that BTC will remain a volatile asset but does not think that Bitcoin will fall back to $ 12,000.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store