Mike Novogratz stated that the cost of Bitcoin in the near future will not fall below the level of $ 5,000. According to him, the main coin has new minima, which cannot be overcome because of too large market capitalization.
“I think if it goes below $8,500, I’ll get nervous. If it goes below $6,000, I’ll get real nervous,” - said Novogratz.
The developer also urged traders and asset holders not to be nervous during Bitcoin correction and not to make important decisions related to their capitals. It is because of the sale of coins the course can sag even more. If traders keep a low profile, short-term returns to a bear market will become insignificant.
According to Novogratz, the market is managed by long-term investors who see prospects in the operation of their assets. Ordinary users simply gradually increase the bitcoin capitalization without affecting the market structure.
Also, Mike Novogratz announced what percentage of investment is better to invest in the first cryptocurrency. He told that he keeps 7% in gold, and in Bitcoin it’s better to keep about 2-3%.