Forecast: Bitcoin may hit $ 40,000 in late 2018

Baku. 28 November. REPORT.AZ/ "At the end of 2018, bitcoin price can easily reach $ 40,000".

Report informs, famous investor Micke Novogratz told the CNBC.

He invested about 20-30% of his wealth on crypto-currency. He purchased bitcoin when it was at $ 50 a bit and ethereum at $ 0.30. Novogratz predicts that the price will rise to $ 10,000 in next 6-10 months has further raised his forecast though, it was cheaper than $ 5,000 on October 10, 2017.

The ethereum is expected to rise 3 times by late 2018 and the cash flows to the crypto-currency market are huge: "Crypto-currency is desire of speculators, because unlike raw materials, demand supply is much more than supply. As there is insufficient offer, prices can dramatically increase. But sometimes we'll see price corrections up to 50%”.

According to Novogratz, capitalization of crypto-currency market is about currently $ 300 billion and it can reach $ 2 trillion in late 2018.

Notably, at present, bitcoin costs $ 9,900, while ethereum makes $ 475.