Last week, Mike Novogratz surprised more than a few market participants by telling CNBC"s Fast Money that he was bringing forward the launch date of his crypto hedge fund; today he killed those plans.
On December 12th, Novogratz said he thinks bitcoin could hit $40,000 in 2-3 months. The Galaxy Fund was supposed to launch of December 15th.
The man who called the bitcoin rally sees this for litecoin from CNBC.
Today, Novogratz has shelved plans to laucnh his fund, warning that "we didn"t like market conditions."
Novogratz tweeted...
Looks to me like a short term top is in. My hunch is we consolidate between 10-16k for a while. Extreme would be 8k. Bull market isn’t over. Just pausing.
— Michael Novogratz (@novogratz) December 22, 2017
Adding that...
When insiders sell it always is important. @SatoshiLite
— Michael Novogratz (@novogratz) December 22, 2017
Warning traders that Bitcoin may drop as low as $8,000 in the near-term.
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