2024

Bitcoin

Grayscale Bitcoin Trust

In a post he shared on the X social media platform, Mike Novogratz, one of the leading names in crypto money, offered an optimistic perspective on the course of Bitcoin (BTC) in 2024, opposing the decline prediction of another commentator.
<h2 id="mike-novogratz-disagrees-with-bearish-forecasts-expects-bitcoin-to-trade-at-a-higher-price-in-2024">Mike Novogratz Disagrees with Bearish Forecasts, Expects Bitcoin to Trade at a Higher Price in 2024</h2>
Responding to the pessimistic forecast from Chris J. Terry, who predicted potential short-term challenges for Bitcoin following Grayscale's decision to maintain a 1.5% fee on its exchange-traded fund (ETF), Novogratz expressed his bullish outlook.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 I disagree with this. While I think people will sell GBTC, I think most will switch into other ETFs – <a href="https://twitter.com/search?q=%24BTCO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTCO</a> being my favorite !!
 Let’s not miss the forest through the trees. It’s now gonna be far easier for boomers to buy corn. And you can get 4×5 times leverage on this… <a href="https://t.co/ZJhumt3tzx" rel="noopener noreferrer nofollow">https://t.co/ZJhumt3tzx</a>
 — Mike Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1749085338671239414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 21, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Contrary to Terry's concerns, Novogratz expects an increase in Bitcoin's value later this year.
<blockquote>
 Novogratz's Arguments:
 Investor Behavior: Novogratz acknowledged the possibility of investors selling their holdings in the Grayscale Bitcoin Trust (GBTC). However, he believes these investors will reinvest in other ETFs, especially BTCO.
</blockquote>
Related News: <a href="https://en.bitcoinsistemi.com/terraform-labs-the-company-behind-terrausd-and-terra-luna-filed-for-bankruptcy/" target="_blank" rel="noopener noreferrer nofollow">Terraform Labs, the Company Behind TerraUSD and Terra (LUNA), Filed for Bankruptcy</a>
<blockquote>
 ETF Accessibility: The crypto mogul emphasized that the accessibility of ETFs, especially BTCO, makes investing easier for a broader demographic group, including older generations.
 Temporary Market Disturbance: Despite the current unrest in the market, Novogratz believes that this is temporary and Bitcoin's value will begin to rise within the next six months.
</blockquote>
Contrary to Novogratz's optimism, financial giant JPMorgan says declines may increase further, anticipating selling pressure resulting from Grayscale's decisions.
This sentiment is also expressed by various analysts who predict downward pressure on the Bitcoin price following the recent approval of a large number of spot Bitcoin ETFs.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/famous-bitcoin-advocate-mike-novogratz-made-a-bitcoin-trend-prediction-for-2024/" rel="noopener noreferrer nofollow">Famous Bitcoin Advocate Mike Novogratz Made a Bitcoin Trend Prediction for 2024!</a>

Famous Bitcoin Advocate Mike Novogratz Made a Bitcoin Trend Prediction for 2024!

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