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30 October 2020

Novogratz: Dangerous Time to Be in Stocks, Bitcoin Has More Upside Than Gold | News Bitcoin News

Novogratz: Dangerous Time to Be in Stocks, Bitcoin Has More Upside Than Gold | News Bitcoin News


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Novogratz: Dangerous Time to Be in Stocks, Bitcoin Has More Upside Than Gold.

While bearish on the dollar, Novogratz is bullish on bitcoin and gold but thinks that bitcoin has more upside than gold.

“I think in the short run we saw the high in the Nasdaq, we saw the high in Apple, we saw the high in Tesla,” he began, adding that going into the November presidential election, the Nasdaq “can easily trade down to 10,000, another 10%, 11% down from here.”.

Emphasizing that the election is only about 40 days away, Novogratz said: “I think between now and the election, volatility stays high and risk gets taken off.” He elaborated:.

The market is not going to digest that well,” he noted, adding, “I think Biden is going to win.” The billionaire investor further revealed: “I am short the Nasdaq, I am short some Apple, [and] I’m short Tesla.”.

“I think gold and bitcoin are very similar assets.

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