dailyhodl.com
The founder and CEO of Galaxy Digital Mike Novogratz predicts a meteoric rise of Bitcoin (BTC), which could take the crypto king to unprecedented heights.
Recalling that he predicted that Bitcoin will reach $500,000 by 2025, Novogratz says in a new Bloomberg interview that he still believes that BTC can reach its massive price target, but also notes that it will take longer than expected due to changing macroeconomics conditions he originally assumed.
"Not for five years and I'll tell you why - the biggest change that happened and the reason Bitcoin went from $69,000 to $20,000 is [Federal Reserve Chairman] Jay Powell decided to find his central bankers and start beating inflation. over the top with interest rate hikes that raised interest rates from 0 percent to four percent.
Also Read : The Next 1000x Crypto
It's pretty simple. That's why all the assets, why all the foam assets, the growth assets that were 'inflation risk land', have gone down because we're beating inflation.. .
That's the main reason crypto fell."
Bitcoin Trading Once upon a time. from writing $17,041, moving to Novogratz's half target suggests a 2,834 percent upside potential for BTC.
According to Novogratz, crypto assets are finally growing as the industry strengthens following the fallout from companies such as digital asset lenders BlockFi and Celsius and crypto venture fund Three Arrows Capital.
"The rest of the mess we had between the Three Arrows and BlockFi and Celsius and all these mismanaged or fraudulently managed companies will definitely damage public confidence in crypto.
But this too shall pass. They will go into the dustbin of the History. And the industry itself will emerge, learned to be stronger. And you'll see the price go down."
🌐 source
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