Billionaire hedge fund legend and former Fortress executive Mike Novogratz believes the bitcoin price will “easily reach” $40,000 by 2018. On CNBC’s Fast Money, Novogratz expressed his optimism towards both bitcoin and Ethereum in the mid-term. Novogratz, who has predicted the price of bitcoin to achieve the $10,000 mark before the end of 2017, stated that bitcoin price will quadruple by the end of 2018, and the price of Ether, the native cryptocurrency of Ethereum, will triple in value. “Bitcoin could be at $40,000 at the end of 2018. It easily could. Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well,” said Novogratz. Why is Novogratz So Confident? Earlier this year, Novogratz officially retired from the traditional finance industry to solely focus on cryptocurrency investments. Over the past few months, Novogratz has had conversed with many institutional investors, that are already preparing to engage in bitcoin t...