Tuesday , August 3 2021

Bitcoin Bull predicts prices rise by 2021 – but fears "melts" in stocks

Bitcoin Bull Michael Nogograz told CNN Business that the crypt currency will double over the next 18 months and will return to its highest level of nearly $ 20,000.

"From the ruins, bitcoin has appeared back," Novogratz said from the sidelines of the SALT conference in Las Vegas.

The notorious volatile crypto-currency currently stands at around $ 6,000, increased from $ 3,100 in December last year.

Novograz, a former hedge fund manager and investment banker Goldman Sachs, does not believe that the dictatorship will return to those lowest levels. The fact would be if there was a breakthrough breakthrough from crypto-exchange or a sudden change in regulation.

"That would mean such a thing to ruin this new trust," Novogratz, who is founder and CEO of Galaxy Digital, crypt bank bank, said.

Hackers steal a bitcoin worth $ 40 million in a massive security breach
Trust seemed not to be shaken by the massive security breach of one of the world's largest currency exchanges. Battle prices have gathered despite news that hackers steal $ 40 million from bitans from Taiwan-based Binans.

"For the institutions to feel comfortable, you must have a lot less of this," he said.

Novograc asked for a crypto exchange to "self-regulate" in order to strengthen their security and to raise confidence in a bitkin.

"A little fence can go a long way," he said.

Others remain deeply skeptical about the dictatorship, due to partly extreme price changes.

Nouriel "Dr. Doom" Roubini struck a bitkin on SALT Wednesday as "the mother and father of all bubbles and busts". Roubini, a professor at the University of New York, noted that the accident of a bitkin far exceeds those who experienced the bubble in the dolce and even the tulip mania of the 1630s.

Bitcoin "has no future as a currency" and is subject to "massive manipulation," said Rubini.

Market Stock & # 39; Frothy & # 39;

While Novograz remains the desire for a bitch, he is worried about exaggerating the stock market.

"We have a chance to stop equality. You see this in the IPO enthusiasm," Novogratz said.

On Friday, "Uber" will become public in the blockbuster IPO in order to raise about $ 9 billion or more. Last week, Out of meat (BYND) was 163% on its IPO day. It was the strongest first day pop for an American company since March 2000 when Palm Inc. went public, according to Delolic.
Michael Nogorac, executive director of Galaxy Digital, warned that there will be no cut in interest rates in a strong economy.

"These insanity rarely lasts. Gravity returns to the game," Novogratz said.

While he does not believe the market is at the top, Novogarz sees signs that things become "foamy".

"Markets usually end up with a super-jump, some serial rage of activity," he said.

The Fed can bring a "melting"

One catalyst for such euphoria could be the Federal Reserve.

President Donald Trump asked the Fed to cut interest rates for a full percentage point – a surprising step normally reserved for a crisis, not a healthy economy.

"The Fed makes a mistake in politics by reducing the strong economy can lead to rapid melting – and that could be the end," Novogratz said.

Billionaire Sam Ziel similarly warned on Wednesday about a "catastrophe" if the Fed respects Trump by sharply lowering interest rates. Such a move, Zell said, would have a huge blow to the US dollar.
The US economy floats on jobs. Calling for a reduction in the rate is now the banks
Stephen Moore, the controversial Trump campaign adviser, told SAL's audience that it was "so stupid" for the Fed to raise rates last year. Moore, who last week pushed his name out of sight to join the Federal Reserve, urged the US central bank to speed up the rates.

Moore also welcomed republican tax cuts, saying that they worked "even better than we thought they would."

Asked about Moore's comments, Nogograz questioned the wisdom of the administration's decision to "cut taxes in a strong economy" and deepen America's budget deficit.

"I'm glad that Stephen Moore is not in the Federal Reserve," added Novogratz.

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