{"id":473332,"date":"2021-10-08T23:00:48","date_gmt":"2021-10-08T23:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=473332"},"modified":"2024-06-11T06:56:28","modified_gmt":"2024-06-11T06:56:28","slug":"parabolic-move-for-bitcoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/parabolic-move-for-bitcoin\/","title":{"rendered":"Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz"},"content":{"rendered":"<p class=\"p1\">Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment.<\/p>\n<h2 class=\"p1\">New Investors Holding Up The Market<\/h2>\n<p class=\"p1\">Billionaire Mike Novogratz was on <a href=\"https:\/\/www.cnbc.com\/video\/2021\/10\/07\/novogratz-crypto-assets-ahead-in-fourth-quarter-have-great-finishes.html\" rel=\"nofollow\">CNBC\u2019s \u201cSquawk Box\u201d<\/a> to talk about the crypto market. Novogratz said that new investors were the reason bitcoin and ethereum price had held their high value. New investor enthusiasm has been on the rise since the bull market first slid into full gear at the beginning of 2021. But the recent turn of events in the crypto market has triggered a new wave of entrants into the space.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/soros-fund-invested-in-bitcoin\/\">CEO Of Soros Fund Management Confirms That The Family Office Is Invested In Bitcoin<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">Novogratz puts the current crypto global wealth percentage at 0.5%, only a small number compared to other financial markets. Nonetheless, an impressive percentage is given that the crypto market is yet to enter its teenage years. The billionaire expects the percentage to rise well above 0.5% as more investors move into the crypto space.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/sgjaof4D\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"1354\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">BTC price trading north of $54K | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/UG2tjOD6\/\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p1\">Speaking of new investors coming into the market and holding up the prices, the billionaire had this to say; \u201cIt\u2019s holding because of just new money coming in. There was $17 billion of new venture capital that went into the first half of the year. It\u2019s just a tremendous inflow of both talent and money.\u201d<\/p>\n<h2 class=\"p1\">Expecting A Parabolic move<\/h2>\n<p class=\"p1\">Novogratz\u2019s firm Galaxy Digital is a well-known investor in the blockchain and cryptocurrency industry. Given this, the billionaire has always been bullish on the crypto market and has been vocal about his bullish stance. During his interview, the CEO revealed that he was expecting the crypto market to break new all-time highs through the fourth quarter of the year.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-to-outgrow-bitcoin\/\">Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">\u201cNot to sound like the ever bullish guy that I sometimes am accused of being, but I literally see a scenario where we take out the highs in Bitcoin and we have one of these parabolic moves in all the crypto going into the fourth quarter.\u201d<\/p>\n<p class=\"p1\">Novogratz explained the reasoning behind his prediction using a racehorse analogy. He compared the movement of the crypto market to \u201cthe horse that turns the corner at the end\u201d that ends up winning the race. Novogratz reiterated his bullish stance for the final quarter of the year. \u201cThe assets that are ahead in the fourth quarter usually have great finishes because everyone piles on and pushes the valuations higher.\u201d<\/p>\n<pre style=\"text-align: center\">Chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment. New Investors Holding Up The Market Billionaire Mike Novogratz was on CNBC\u2019s \u201cSquawk Box\u201d to talk about the crypto market. Novogratz said that new investors were the reason bitcoin and ethereum price had held their high value. New investor enthusiasm has been on the rise since the bull market first slid into full gear at the beginning of 2021. But the recent turn of events in the crypto market has triggered a new wave of entrants into the space. Related Reading |\u00a0CEO Of Soros Fund Management Confirms That The Family Office Is Invested In Bitcoin Novogratz puts the current crypto global wealth percentage at 0.5%, only a small number compared to other financial markets. Nonetheless, an impressive percentage is given that the crypto market is yet to enter its teenage years. The billionaire expects the percentage to rise well above 0.5% as more investors move into the crypto space. BTC price trading north of $54K | Source: BTCUSD on TradingView.com Speaking of new investors coming into the market and holding up the prices, the billionaire had this to say; \u201cIt\u2019s holding because of just new money coming in. There was $17 billion of new venture capital that went into the first half of the year. It\u2019s just a tremendous inflow of both talent and money.\u201d Expecting A Parabolic move Novogratz\u2019s firm Galaxy Digital is a well-known investor in the blockchain and cryptocurrency industry. Given this, the billionaire has always been bullish on the crypto market and has been vocal about his bullish stance. During his interview, the CEO revealed that he was expecting the crypto market to break new all-time highs through the fourth quarter of the year. Related Reading |\u00a0Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey \u201cNot to sound like the ever bullish guy that I sometimes am accused of being, but I literally see a scenario where we take out the highs in Bitcoin and we have one of these parabolic moves in all the crypto going into the fourth quarter.\u201d Novogratz explained the reasoning behind his prediction using a racehorse analogy. He compared the movement of the crypto market to \u201cthe horse that turns the corner at the end\u201d that ends up winning the race. Novogratz reiterated his bullish stance for the final quarter of the year. \u201cThe assets that are ahead in the fourth quarter usually have great finishes because everyone piles on and pushes the valuations higher.\u201d Chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":472230,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1144,78790,11277],"class_list":["post-473332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-mike-novogratz"],"acf":[],"yoast_head":"\n<title>Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz<\/title>\n<meta name=\"description\" content=\"Bitcoin has been on the rise with the start of the new month. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz","url":"http:\/\/wncen.com\/news\/parabolic-move-for-bitcoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/parabolic-move-for-bitcoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/michael-fortsch-4GD_5kMZmY8-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/michael-fortsch-4GD_5kMZmY8-unsplash-scaled.jpg?fit=2560%2C1616"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","btcusdt","mike novogratz"],"dateCreated":"2021-10-08T23:00:48Z","datePublished":"2021-10-08T23:00:48Z","dateModified":"2024-06-11T06:56:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/parabolic-move-for-bitcoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/parabolic-move-for-bitcoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/michael-fortsch-4GD_5kMZmY8-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/09\\\/michael-fortsch-4GD_5kMZmY8-unsplash-scaled.jpg?fit=2560%2C1616\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"btcusdt\",\"mike novogratz\"],\"dateCreated\":\"2021-10-08T23:00:48Z\",\"datePublished\":\"2021-10-08T23:00:48Z\",\"dateModified\":\"2024-06-11T06:56:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/09\/michael-fortsch-4GD_5kMZmY8-unsplash-scaled.jpg?fit=2560%2C1616","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473332"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=473332"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/472230"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=473332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=473332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=473332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}