Hello dear readers, let this post serve to share with all of you the new projections made by Mike Novogratz, who said that Bitcoin would reach $500,000, now he gave another forecast.
As I mentioned, renowned Bitcoin and crypto bull Mike Novogratz dismissed his prediction of a $500,000 price for Bitcoin in five years, blaming the Federal Reserve's brutal series of interest rate hikes this year.
The biggest change that occurred and the real reason Bitcoin dropped from $69,000 to around $20,000 is that Fed Chairman Jay Powell decided to find his central banking superpowers and start attacking inflation with a series of rate hikes.
On the other hand, Galaxy Digital's CEO told Bloomberg, reversing his prediction that Bitcoin will soar to $500,000 by 2027, but stating that it will eventually reach that level.
According to Novogratz, the Fed is in control and is doing a very good job, and that is the main reason why crypto collapsed and added that a series of cryptocurrency company scandals has increased pressure on the market.
He also said the market is now looking is a possible 'soft landing,' giving both stocks and cryptoassets some breathing room. Looking ahead, the market will look ahead to the Federal Open Market Committee meeting on December 14 to see if the next rate hike is less than 50 basis points.
SOURCES CONSULTED
Forbesargentina. Wall Street billionaire Mike Novogratz predicts "new floor" for Bitcoin. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Forbesargentina.
