Novogratz considers, what market stock repeats bubble bitcoin
Mike Novogratz warned of a dangerous bubble brewing in the stock market.
He drew a parallel between the current situation and the Bitcoin bubble in 2017..
Famous investor continues to be a bitcoin enthusiast.
Crypto Investor Mike Novogratz Warns Of The Dangers Of A Stock Bubble market, comparing what is happening with the Bitcoin bubble in 2017 year.
Well-known bitcoin enthusiast, billionaire and Galaxy Digital Holdings CEO Mike Novogratz was interviewed on Bloomberg Television. In it, he warned that stock markets in his aggressive growth “out of touch with reality.” In this regard, he urged retail investors to hurry out of the game in order to be in time before the collapse.
During the interview, Novogratz stated:
“We are in a state of irrational enthusiasm. This is a bubble “.
He added that the economy is holding on with all its might, but its growth rate is slowing down. The Covid situation is getting better, then worsening again, and between themes the tech sector sets new records almost every day. This is a classic speculative bubble, Novogratz emphasized..
He admitted that he considers the current levels of quotations in the technology sector to be seriously dangerous. “Whether it’s Zoom, or Tesla, or Beyond Meat, everyone is throwing themselves into stocks any the company that is being talked about. It worries me, “said Noovgrats..
However, it is possible to sound the alarm until early. The heavyweights of Wall Street, including such successful financial gurus and investors, as Stan Druckenmiller and David Tepper, already not the first month they warn of an impending catastrophe. but index S&The P 500 continues to rise, recouping any losses incurred in the midst of the coronavirus pandemic. He even managed to finish the quarter at the best levels since 1998. Technological index Nasdaq 100 arranged yet more aggressive rally.
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Stocks or bitcoin
Novogratz noted during the interview that the current growth stocks, especially in the tech sector, reminds him of a rally course bitcoin (BTC) in 2017, when home the world’s cryptocurrency in a matter of months took off from areas $ 8000 nearly up to $ 20,000 precisely against the backdrop of an influx of inexperienced retail investors. However, we all remember perfectly well that behind this dizzying growth followed collapse MTC and long-term crypto winter.
Personally, Novogratz added to himself that he largely ignored the rally in the tech sector, focusing instead on of this on investments in gold and bitcoin, which also won thanks to tributary liquidity aimed at support stock markets.
Novogratz continues to be a dedicated crypto enthusiast, despite to the fact that him company for the second quarter in a row carries multi-million dollar losses. Previously BeInCrypto edition I have already said that, according to Novogratz, bitcoin waited for its finest hour in conditions when the world economy everything more flooded with devalued fiat money.
Note that he is not the only one to adhere to such opinions. A number of other experts also believe that the factor of inflation and devaluation of national currencies can play an important role in increasing interest in bitcoin.
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