Canadian businessman Kevin O’Leary says in a recent interview that Bitcoin (BTC) continues to rise. Another famous cryptocurrency investor and entrepreneur, Michael Novogratz, shares his concerns about the current altcoin market situation.
Kevin O’Leary, BTC still bullish despite major correction
Canadian businessman Kevin O’Leary, in a recent interview with Stansberry Research, on crypto He says it continues to rise. O’Leary claims that Bitcoin predictions are never accurate, adding that “no one” can accurately predict its volatility.
Stating that the assumption that Bitcoin (BTC) will be a measure against inflation is “completely wrong”, O’Leary predicts that Bitcoin will remain volatile. He compared that to Amazon’s performance over the past 15 years. Further, O’Leary reiterates that the narrative about institutional adoption of Bitcoin is not correct, as the SEC has yet to approve the fund that is traded on a Bitcoin exchange. As reported by
Kriptokoin.com , O’Leary predicted in a now-deleted tweet that Bitcoin would become the world’s reserve currency in April. On the other hand, Canadian investors, who described the leading cryptocurrency as ‘garbage’ in 2019, will invest in cryptocurrencies in 2020
Bitcoin (BTC) bull Mike Novogratz: It’s dangerous to collect the bottoms
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Famous cryptocurrency investor and entrepreneur Michael Novogratz shared his concerns about the current altcoin market situation. “The best times for bottoms are yet to come,” said Novogratz, recalling the sad times of Crypto Winter 2018, when major altcoin prices fell 95% compared to December 2017 highs.
According to Novogratz, May 20 By 2022, altcoins have mostly just crashed 80%. Therefore, Novogratz thinks there is a huge potential for downside for them and states that crypto traders should not look for local bottoms at this stage of the market cycle. According to Novogratz, at least this strategy will not be profitable in the short term.
Meanwhile, it’s worth remembering that Michael Novogratz is among the most passionate advocates of the Terra (LUNA) ecosystem. The famous billionaire defended himself when TerraUSD (UST) collapsed, calling it “the big idea that failed.”
