Novogratz: Dangerous Time To Be In Stocks, Bitcoin As More Advantages Than Gold

Novogratz: Dangerous Time To Be In Stocks, Bitcoin As More Advantages Than Gold

Galaxy Digital CEO Michael Novogratz explains why it’s a dangerous time to be in the stock market right now, ahead of the US presidential election. While bearish on the dollar, Novogratz is bullish. with bitcoin and gold, but believe that bitcoin has more advantages than gold.

Billionaire investor and Galaxy Digital CEO Michael Novogratz explained his take on the best investments as the November US presidential election approaches on Wednesday’s episode of CNN’s Markets Now show.

“I think in the short term we saw the peak on the Nasdaq, we saw the peak on Apple, we saw the peak on Tesla,” he began, adding that heading into the November presidential election, the Nasdaq “can easily trade at 10,000. another 10%, 11% down from here. “

Emphasizing that the elections are only about 40 days away, Novogratz said: “I think between now and the elections, volatility remains high and risk disappears.” He elaborated:

I think it’s a really dangerous time to be in the market. I have taken a lot of risks and I am waiting for something better, clearer and better entry points … I believe that selling the dollar will be a trend that continues.

“There will be a time to buy stocks again, but I think with this election literally 40 days away, if Biden wins, he will raise taxes and increase capital gains tax, more specifically. The market is not going to digest that well, “he noted, adding,” I think Biden is going to win. “The billionaire investor further revealed,” I’m short on Nasdaq, I’m short on some Apple, [and] I’m short on Tesla “.

On the bitcoin issue, he highlighted that the cryptocurrency has some correlation with the Nasdaq and S&P, but said: “I don’t think it is a lasting correlation.”

To illustrate his point, he described: “If the Nasdaq fell 5% today, bitcoin would probably be lower, not higher. But I think you will see those correlations break down. The macro story is very promising for shorting the dollar, buying long gold, and buying long crypto. And we’re seeing more and more adoption. ”When asked if an average investor should own bitcoin, he stated:

Yes, yes. The average investor should have 1% to 3% of their portfolio in bitcoin. It is an amazing hedge.

“In my life and in the history of independent central banks, we have never had an environment where the central bank and the treasury are no longer independent. They are the same thing. The treasury prints and the central bank buys. That is why we do not know what will happen. The level of uncertainty around the fiat currency, around the dollar, around inflation has to be significantly higher than at any other time in our lives, ”he continued.

Novogratz also spoke about gold and the reasons why he prefers bitcoin. “I think that gold and bitcoin are very similar assets. The reason I like Bitcoin better is that it is much earlier in the adoption cycle, “he disclosed.” If you want to buy gold, you know how to buy it. It is still a headache to buy bitcoins. And then there are firms like ours. and Fidelity and many of them who are working overtime to make it easier for people to buy … and feel safe owing bitcoins. “

While he believes that the price of gold will increase, Novogratz expects the price of bitcoin to rise to “$ 50,000, 5X from here” in two years. The billionaire investor concluded:

Source: news.triunits.com

Author: Souvik Sarkarhttps://news.triunits.comCrypto Expert And Blogger .


High DeFi Cash Maker, Compound, & Extra Slip 5% Regardless of Optimistic Fundamentals

High DeFi Cash Maker, Compound, & Extra Slip 5% Regardless of Optimistic Fundamentals

It’s been an ideal previous day for Bitcoin however not for DeFi cash.

After stagnating round $10,700, BTC surged increased to a neighborhood excessive round $10,950 — the very best value in round every week. Decentralized finance cash, then again, have slipped decrease.

Based on knowledge from CoinGecko, a number of the prime DeFi cash have posted losses up to now 24 hours of round 5%. The cash which have finished so embody Maker (MKR), Compound (COMP), and Synthetix Community Token (SNX).

This comes despite continued power within the fundamentals of the DeFi house: DeFi Pulse experiences as of this text’s writing that there’s over $11 billion value of worth locked up in decentralized finance purposes. At first of the 12 months, this exact same metric was a lot nearer to $500 million and even decrease than that firstly of 2019.

DeFi is on a macro path of progress regardless of latest value weak spot in line with prime fund managers and analysts within the house.

Spencer Midday, head of DTC Capital and an editor for Our Community, lately commented on the subject:

“Proper now, the ethereum benefit is composability. Defi is a token hypothesis on line casino and many of the tokens folks wish to wager on are ERC20. Interoperability, wrapped cash, and DEXs like serum might erode/eradicate that edge pretty quickly, however not but.”

The sturdy basic backdrop to #crypto — which is in contrast to any bull market beforehand — is that there are billions of cryptodollars coming on-chain to make use of #DeFi. Except that reveals indicators of slowing, we’re on monitor for a multi-trillion greenback combination marketcap for the house.

— Spencer Midday (@spencernoon) September 26, 2020

This optimism has been echoed by many others together with Andrew Kang, as they observe that technical growth and flows of capital recommend DeFi is on the verge of a longer-term cycle of progress.

Whereas DeFi has house to develop, many within the house amid that a lot of the expansion is solely speculative versus true financial worth. Ari Paul, founding father of BlockTower Capital, commented earlier this month on the state of DeFi proper now:

“Proper now, the ethereum benefit is composability. Defi is a token hypothesis on line casino and many of the tokens folks wish to wager on are ERC20. Interoperability, wrapped cash, and DEXs like serum might erode/eradicate that edge pretty quickly, however not but.”

Others within the house have echoed this assertion that a lot of the expansion in DeFi proper now could be primarily based on hypothesis solely.

It’s unclear proper now how decentralized finance builders will reconcile hypothesis and true financial progress.

Source: bitcoinflashnews.com

Author: By admin


Here are 3 Factors That Suggest Bitcoin is Poised for a Serious Push Higher

Here are 3 Factors That Suggest Bitcoin is Poised for a Serious Push Higher

Here are 3 Factors That Suggest Bitcoin is Poised for a Serious Push Higher

Bitcoin’s price action has been flashing mixed signals to investors, as its price has been caught within a wide trading range between $10,200 and $11,200 as buyers and sellers battle for control of its near-term outlook.

The cryptocurrency’s inability to post any sustainable upswing indicates the strength that sellers have at the present moment, which has led to a mounting sense of fear amongst investors.

That being said, one analyst is noting that this is a primary reason why he is still bullish on BTC – using investor sentiment as a counter indicator.

That same trader also points to consistently neutral or negative funding as another factor working in the benchmark cryptocurrency’s favor, as well as a premium for spot Bitcoin over BTC derivatives.

Bitcoin’s consolidation trend has made it incredibly unclear as to where it may trend in the days, weeks, and months ahead.

Over the past few weeks, the benchmark digital asset has been trading between $10,200 and $11,200.

Which of these levels is firmly broken above or below first should offer investors some serious insights into the entire market’s near-term outlook.

Because of the uncertainty surrounding where BTC might trend next, investors have been growing increasingly fearful. This has caused the “fear and greed index” to sit firmly within the fearful zone.

What cryptocurrency will become the main one in a year?
BitcoinEthereum

One analyst believes this is a bullish trend:

“Next we have the fear & greed index which speaks for itself. After the 12k resistance we dropped hard and are now consistently stuck in the fear zone,” he explained.

Bitcoin

Image Courtesy of Byzantine General.

The same trader also pointed to Bitcoin’s consistently negative or neutral funding as a bullish trend that signals there’s significant room for upside.

“First of all there is funding. One of the best indicators to gauge market sentiment. After the drop from 12k it has been consistently negative or baseline at best.”

Image Courtesy of Byzantine General.

He also explained that the cryptocurrency’s “contango index” shows that there is a premium for spot Bitcoin over derivative BTC, which is a bullish trend.

“We have the contango index. This shows the difference between price of SPOT exchanges & derivatives exchanges. When SPOT has higher prices the indicator goes lower, into the green zone. A consistent premium for SPOT exchanges is considered bullish.”

Image Courtesy of Byzantine General.

The confluence of all these factors indicates that a large push higher is imminent for Bitcoin.

Cole Petersen

Source: www.newsbtc.com

Author: Cole Petersen


Bitcoin Cash Price Prediction: BCH/USD Marks an Impressive Intraday Hike; Price Touches $231

Bitcoin Cash Price Prediction: BCH/USD Marks an Impressive Intraday Hike; Price Touches $231

BCH Price Prediction – September 27

The Bitcoin Cash shows an amazing intraday hike as it rises from today’s low of $216 to currently trading above $225.

Key Levels:

Resistance levels: $245, $255, $265

Support levels: $200, $190, $180

BCH/USD is seen pushing the price above the critical resistance level. The coin is trading above the 9-day and 21-day moving averages to trade at $225.86 at the time of writing. The Bitcoin Cash is also seen focusing on the bullish momentum after a sustainable break above the channel. More so, the coin has gained over 2.01% since the beginning of the day as it is using $215 support as a jumping-off ground to develop the upside momentum, which is now gaining traction.

On the upside, if BCH/USD stays above the 9-day and 21-day moving averages, the price may break through the resistance level of $235 and $240 respectively. Meanwhile, the technical indicator shows that the bulls are ready for action especially when the up-trending RSI (14) begins. Any further bullish movement above the channel may pave the way to the resistance levels of $245, $255, and 265.

In other words, if the price falls below the moving averages, the market may be compelled either to a range-bound or begin a downward movement. This may likely serve as a major blow for the market sentiments as traders could interpret it as a sign of underlying weakness. The next important support comes at $210, which may be followed by $200, $190, and $180 support levels.

Looking at BCH/BTC, one thing to note here is that the market is preparing to change the trend and a short-term bullish breakout may likely play out because the technical indicator RSI (14) is moving around 44-level and this could find the nearest resistance level at 0.0225 BTC and above.

However, peradventure the buyers failed to hold the current market value at 0.0210 BTC, the market price may likely continue a downward movement, while dropping further may bring the coin to the support level of 0.0190 BTC and below.

Source: insidebitcoins.com

Author: FOLLOW ON


Novogratz: Dangerous Time To Be In Stocks, Bitcoin As More Advantages Than Gold


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