Novogratz: Bitcoin Could ‘Easily’ Reach $40,000 in 2018

Billionaire hedge fund manager Mike Novogratz has made a bullish price prediction for bitcoin and thinks that it could ‘easily’ reach $40,000 by the end of 2018.

The former Fortress manager was speaking on CNBC’s ‘Fast Money‘ on Monday where he said that it could increased by over four times its current worth in the next 13 months, adding:

Bitcoin could be at $40,000 at the end of 2018. It easily could.

The digital currency has been experiencing a surge in value in recent weeks, pushing it closer to the $10,000 mark. Yesterday, it was reported that bitcoin had scaled $9,700 for the first time, at $9,790. At the time of publishing, the cryptocurrency is continuing its upward trajectory and has been recorded at $9,949, according to CoinMarketCap. Its market cap is now valued at $166.2 billion.

Novogratz also commented on the rise of second-placed ethereum, which has risen to new heights.

He said:

Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well.

Ethereum is currently trading at $479; however, yesterday it was within touching distance of $500, at $493, data from CoinMarketCap shows…

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