{"id":337116,"date":"2017-11-29T11:49:52","date_gmt":"2017-11-29T10:49:52","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-a-top-hedge-fund-manager-says-bitcoin-could-easily-hit-40000-by-the-end-of-2018\/"},"modified":"2017-11-29T11:49:52","modified_gmt":"2017-11-29T10:49:52","slug":"prison-planet-com-a-top-hedge-fund-manager-says-bitcoin-could-easily-hit-40000-by-the-end-of-2018","status":"publish","type":"post","link":"http:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-a-top-hedge-fund-manager-says-bitcoin-could-easily-hit-40000-by-the-end-of-2018\/","title":{"rendered":"Prison Planet.com \u00bb A Top Hedge Fund Manager Says Bitcoin Could \u2018Easily\u2019 Hit $40,000 by the End of 2018"},"content":{"rendered":"
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Fortune<\/strong><\/a>
November 28, 2017<\/p>\n

Bitcoin\u00a0was hovering<\/a>\u00a0just $300 shy of the vaunted $10,000 mark at one point on Monday but it could \u201ceasily\u201d reach four times that amount by the end of 2018. That\u2019s according to former Fortress hedge fund manager Michael Novogratz.<\/strong><\/p>\n

\u201cBitcoin could be at $40,000 at the end of 2018. It easily could,\u201d Novogratz\u00a0said on the<\/a>CNBC show Fast Money, Monday. \u201cEthereum<\/a>, which I think just touched $500 or is getting close, could be triple where it is as well,\u201d he added.<\/p>\n

Ethereum, the second largest publicly traded\u00a0cryptocurrency<\/a>\u00a0by market cap, hit a record high of $493.40 Monday, according to CoinMarketCap.<\/p>\n

Novogratz attributed the cryptocurrency sector\u2019s rambunctious growth prospects to an influx of new money, particularly from Asian investors, and to cryptocurrencies\u2019 finite amount of units: 21 million coins in the case of Bitcoin. This means that in contrast to commodities like oil or agricultural products, producers can\u2019t choke or expand supply in response to market fluctuations.<\/p>\n

Read more<\/a><\/p>\n

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This article was posted: Tuesday, November 28, 2017 at 6:42 am<\/p>\n

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FortuneNovember 28, 2017 Bitcoin\u00a0was hovering\u00a0just $300 shy of the vaunted $10,000 mark at one point on Monday but it could \u201ceasily\u201d reach four times that amount by the end of 2018. That\u2019s according to former Fortress hedge fund manager Michael Novogratz. \u201cBitcoin could be at $40,000 at the end of 2018. It easily could,\u201d Novogratz\u00a0said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-337116","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/337116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=337116"}],"version-history":[{"count":0,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/337116\/revisions"}],"wp:attachment":[{"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=337116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=337116"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=337116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}