Bitcoin Gives Hard Time to This Billionaire, Sells Of Bitcoin And Then FOMO Sets In…

Mike Nivagratz

Bitcoin Gives Hard Time to This Billionaire, Sells Of Bitcoin And Then FOMO Sets In…

Popular billionaire & crypto investor Mike Novogratz was taken by surprise after bitcoin price became rapidly bearish on Thursday leaving the cryptocurrency trading at a price 10% lower than the previous day. According to Mike, that was a condition where he wished to have taken advantage.

In a price movement that could be described as a short-lived, featuring Bitcoin’s most rapid bullish movement in last 6 months, the cryptocurrency surged up to about $14,000 indicating a significant 22% increase in just a few days.

At the time of the interview, bitcoin’s price hit a tremendous stumbling block and had made a U-turn for the bottom, a situation in which bitcoin price was around $11,000 per unit, creating fear and uncertainty in many.

Bitcoin price chart
Source: Bloomberg

Mike, the chief executive officer (CEO) of Galaxy Digital Holdings Ltd. during an interview with CNBC on Thursday, admitted having sold off a part of his bitcoin holdings totaling about $10,000. However, he hoped he had sold more by the time where we saw bitcoin falling in price so drastically.

In Mike’s words,

“If you were perfect, you’d have sold a whole bunch yesterday,” he said in an interview with CNBC on Thursday. “When you go parabolic you have to.”

Mike has expressed regret for his action and now wishes to buy back at least his $10,000 bitcoin.

Also Read: Bitcoin’s Fourth Parabolic Rise in a Decade, Analysts See Low Liquidity and High Volatility

Mike is one of the respected crypto analysts who pride themselves in an accurate cryptocurrency price prediction and analysis.

Last month, Mike had predicted Bitcoin price would move between $7,000 and $10,000 but added that excitement and FOMO could carry it higher. His prognostication proved too conservative: the coin’s price reached as high as $13,852 this week. He updated his prediction in the interview, saying it may trade between $10,000 and $14,000.

“It was a frenzy,” said Novogratz in the interview.

Are you also caught up in FOMO like Mike, let us know your sentiments in comments.

Summary
Bitcoin Gives Hard Time to This Billionaire, Sells Of Bitcoin And Then FOMO Sets In...
Article Name
Bitcoin Gives Hard Time to This Billionaire, Sells Of Bitcoin And Then FOMO Sets In...
Description
Popular billionaire crypto investor Mike Novogratz was taken by surprise after bitcoin price became rapidly bearish on Thursday leaving the cryptocurrency trading at about 10% price lower than the previous day.
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Post your comment...
Dare Shonubi 182 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

Follow Dare @