{"id":365889,"date":"2018-12-18T21:02:27","date_gmt":"2018-12-18T21:02:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=365889"},"modified":"2024-06-11T07:45:40","modified_gmt":"2024-06-11T07:45:40","slug":"novogratz-crypto-macro-bitcoin","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/novogratz-crypto-macro-bitcoin\/","title":{"rendered":"Novogratz: Interest Left Crypto for Macro, But Bitcoin Will Emerge As Store of Value"},"content":{"rendered":"

Outspoken Bitcoin<\/a> bull and founder of the cryptocurrency-focused Galaxy Digital, Mike Novogratz<\/a>, believes that investor interest in cryptocurrencies like Bitcoin and Ethereum have left the market for macro trading.<\/span><\/p>\n

Despite this, Novogratz still expects Bitcoin to emerge as a digital store of value in the end.<\/span><\/p>\n

Novogratz: Investors and Traders Ditch Crypto for Macro Trading<\/span><\/h2>\n

During all of 2017, Bitcoin and its altcoin cousins experienced a bull run of epic proportions, propelling the emerging asset class into the mainstream limelight, and sending the price of Bitcoin skyrocketing to $20,000<\/a>.<\/span><\/p>\n

But the trend ran out of steam, the crypto bubble popped, and Bitcoin\u2019s parabolic advance was broken, resulting in a deep correction across the entire asset class. The correction has turned into a year-long bear market that has recently proven it has many more months to go.<\/span><\/p>\n

During this time, the global macroeconomic landscape has spun out of control, stemming from growing debt and an ongoing trade war between the United States and China. It\u2019s created a storm of uncertainty around certain assets that are closely tied to a country\u2019s overall economic and political views.<\/span><\/p>\n

Related Reading |\u00a0Galaxy Digital Loses $76 Million in Q3, Novogratz Remains Bullish<\/a><\/strong><\/em><\/p>\n

The wildly fluctuating price movements in the macro market, Mike Novogratz says, has created a \u201ccool era\u201d much like the exuberant buzz crypto enjoyed throughout last year. Novogratz says that macro \u201cgot quite boring for many years,\u201d while crypto was \u201creally exciting,\u201d and now the roles have reversed.<\/span><\/p>\n

The overall global economic climate may also be having an effect on Bitcoin\u2019s prices, as investors seek to reduce risk in the face of a looming recession. Taking into consideration cryptocurrency\u2019s powerful price volatility and penchant for falling as much as 98% from previous all-time highs, cryptocurrencies are among the riskiest asset classes.<\/span><\/p>\n

Despite this, Novogratz still thinks that Bitcoin will eventually become the store of value it was pitched as during the 2017 bull market.<\/span><\/p>\n

\n

\u201cI am certain we will have a digital store of wealth. I think it will be Bitcoin,\u201d Novogratz told Bloomberg<\/a>.<\/span><\/p>\n<\/blockquote>\n

Novogratz: Bitcoin to Trade Between $3,000 and $6,000 for \u201cForeseeable Future\u201d<\/span><\/h2>\n

Mike Novogratz is always ready with a new price prediction for Bitcoin. The Galaxy Digital<\/a> CEO recently claimed that Bitcoin would break $10,000 by the end of the second quarter in 2019, sending the leading cryptocurrency by market cap to new highs<\/span><\/a>.<\/span><\/p>\n

Related Reading |\u00a0Mike Novogratz Expects Crypto Market Turnaround, Adoption in 2019<\/a><\/strong><\/em><\/p>\n

However, after it fell through critical price support at $6,000<\/a>, he\u2019s now changed his tune. Novogratz now expects the first ever cryptocurrency to trade between $3,000 and $6,000 in the short term.<\/span><\/p>\n

Novgratz also took the opportunity to remind investors to think long-term, suggesting that comparing the profit performance of buying Bitcoin two years ago versus buying gold, into the S&P, or \u201cany other asset,\u201d would show that Bitcoin leads the pack in terms of overall gains. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Outspoken Bitcoin bull and founder of the cryptocurrency-focused Galaxy Digital, Mike Novogratz, believes that investor interest in cryptocurrencies like Bitcoin and Ethereum have left the market for macro trading. Despite this, Novogratz still expects Bitcoin to emerge as a digital store of value in the end. Novogratz: Investors and Traders Ditch Crypto for Macro Trading During all of 2017, Bitcoin and its altcoin cousins experienced a bull run of epic proportions, propelling the emerging asset class into the mainstream limelight, and sending the price of Bitcoin skyrocketing to $20,000. But the trend ran out of steam, the crypto bubble popped, and Bitcoin\u2019s parabolic advance was broken, resulting in a deep correction across the entire asset class. The correction has turned into a year-long bear market that has recently proven it has many more months to go. During this time, the global macroeconomic landscape has spun out of control, stemming from growing debt and an ongoing trade war between the United States and China. It\u2019s created a storm of uncertainty around certain assets that are closely tied to a country\u2019s overall economic and political views. Related Reading |\u00a0Galaxy Digital Loses $76 Million in Q3, Novogratz Remains Bullish The wildly fluctuating price movements in the macro market, Mike Novogratz says, has created a \u201ccool era\u201d much like the exuberant buzz crypto enjoyed throughout last year. Novogratz says that macro \u201cgot quite boring for many years,\u201d while crypto was \u201creally exciting,\u201d and now the roles have reversed. The overall global economic climate may also be having an effect on Bitcoin\u2019s prices, as investors seek to reduce risk in the face of a looming recession. Taking into consideration cryptocurrency\u2019s powerful price volatility and penchant for falling as much as 98% from previous all-time highs, cryptocurrencies are among the riskiest asset classes. Despite this, Novogratz still thinks that Bitcoin will eventually become the store of value it was pitched as during the 2017 bull market. \u201cI am certain we will have a digital store of wealth. I think it will be Bitcoin,\u201d Novogratz told Bloomberg. Novogratz: Bitcoin to Trade Between $3,000 and $6,000 for \u201cForeseeable Future\u201d Mike Novogratz is always ready with a new price prediction for Bitcoin. The Galaxy Digital CEO recently claimed that Bitcoin would break $10,000 by the end of the second quarter in 2019, sending the leading cryptocurrency by market cap to new highs. Related Reading |\u00a0Mike Novogratz Expects Crypto Market Turnaround, Adoption in 2019 However, after it fell through critical price support at $6,000, he\u2019s now changed his tune. Novogratz now expects the first ever cryptocurrency to trade between $3,000 and $6,000 in the short term. Novgratz also took the opportunity to remind investors to think long-term, suggesting that comparing the profit performance of buying Bitcoin two years ago versus buying gold, into the S&P, or \u201cany other asset,\u201d would show that Bitcoin leads the pack in terms of overall gains.<\/p>\n","protected":false},"author":517,"featured_media":365895,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,6664,13071,2850,11277],"class_list":["post-365889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-crypto","tag-galaxy-digital","tag-macroeconomics","tag-mike-novogratz"],"acf":[],"yoast_head":"\nNovogratz: Interest Left Crypto for Macro, Bitcoin Will Emerge As Store of Value<\/title>\n<meta name=\"description\" content=\"Mike 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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Novogratz: Interest Left Crypto for Macro, But Bitcoin Will Emerge As Store of Value","url":"http:\/\/uniquehot.com\/news\/novogratz-crypto-macro-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/novogratz-crypto-macro-bitcoin\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/12\/bitcoin-shutterstock_709695679.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/12\/bitcoin-shutterstock_709695679.jpg?fit=5300%2C3926"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","galaxy digital","macroeconomics","mike novogratz"],"dateCreated":"2018-12-18T21:02:27Z","datePublished":"2018-12-18T21:02:27Z","dateModified":"2024-06-11T07:45:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Novogratz: Interest Left Crypto for Macro, But Bitcoin Will Emerge As Store of Value\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/novogratz-crypto-macro-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/novogratz-crypto-macro-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/bitcoin-shutterstock_709695679.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/bitcoin-shutterstock_709695679.jpg?fit=5300%2C3926\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"galaxy digital\",\"macroeconomics\",\"mike novogratz\"],\"dateCreated\":\"2018-12-18T21:02:27Z\",\"datePublished\":\"2018-12-18T21:02:27Z\",\"dateModified\":\"2024-06-11T07:45:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2018\/12\/bitcoin-shutterstock_709695679.jpg?fit=5300%2C3926","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/365889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=365889"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/365889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/365895"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=365889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=365889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=365889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}