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Mike Novogratz Sells Part of His Bitcoin Before Decline, Plans to Buy Again at $10,000
On Friday, June 28, Bitcoin and the crypto market are still declining. However, the Bitcoin price is a little up from the $10,700 level it dropped to the day before.
Previously, U.Today reported that Peter Brandt recommended ‘taking some money off the table.’ In addition, the chief TA of Fundstrat predicted the upcoming decline – on the charts, Bitcoin price had formed a ‘double top’ pattern.
The "Obnoxious-Twitter-Millennial-Index" (OTMI) is registering extreme FOMO. That is always a sign to consider taking some money off the table. pic.twitter.com/t0t1NVo3Ys
— Peter Brandt (@PeterLBrandt) June 22, 2019
NOT A FORECAST:
But our TA @rsluymer says there is no such thing as a ‘triple top’
Looks like we will soon find out... pic.twitter.com/hRz55xZERD— Thomas Lee (@fundstrat) June 25, 2019Advertisement
Novogratz fixes his BTC profits
Bitcoin billionaire and investor Mike Novogratz seems to have also seen those and perhaps other signs of the approaching correction too and sold some of his Bitcoin on Wednesday, writes Bloomberg in its recent piece.
On Wednesday, Bitcoin’s price surged 22 percent and edged the $14,000 mark.
The founder of Galaxy Digital told Bloomberg that he sold a little bit of his BTC on that day and regrets that he did not sell more. As per the article, the investor plans to buy again once Bitcoin rate drops to $10,000.
CNBC also cites Novogratz:
If you were perfect, you’d have sold a whole bunch yesterday. When you go parabolic you have to.”
Yuri MolchanLast month’s prediction for BTC
In May, Novogratz made a forecast for the Bitcoin price to make a consolidation between the levels of $7,000 and $10,000. However, the investor also admitted that the momentum gained from the overall excitement and FOMO would push the price much higher.
This week, his prediction came true as Bitcoin hit $13,852.
At press time, the major crypto asset is sitting at $11,404, showing a decline of 7.42 percent.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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