It’s been revealed that Mike Novogratz has a really bullish prediction for the price of Bitcoin. Check it out below.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $16,960.
Bitcoin bullish prediciton is out
Not too long ago, Mike Novogratz predicted the fact that Bitcoin would reach $500,000 by 2025, Novogratz says in a new Bloomberg interview that he still believes BTC could hit his massive price target.
It’s also important to note the fact that it would take more time than he originally expected as macroeconomic conditions have changed.
“Not in five years and I’ll tell you why – the biggest change that happened and the reason Bitcoin went from $69,000 down to the $20,000s is [Federal Reserve Chairman] Jay Powell decided to find his central banking superpowers and start bashing inflation over the head with a series of rate hikes that have taken rates from 0% to 4+%.”
He continued and said this:
“It’s pretty much that simple. It’s why all assets, why all frothy assets, growth assets that were that were ‘inflation hedges’ went down because we are in the process of beating inflation over the head…”
Make sure to check out the complete article posted by the Daily Hodl in order to learn more details about the prediciotns that Novogratz made.
Bitcoin to see huge bounce
The other day, we revealed that the pseudonymous trader Altcoin Sherpa said not too long ago that he expects Bitcoin (BTC) to spark a rally toward the $18,000 price level.
On the other hand, he noted that there’s a caveat – he doesn’t think the king crypto has bottomed out yet.
He said that he believes Bitcoin will see a reversal once it hits his predicted mark. He also made sure to highlight the fact that he expects altcoins to do well as Bitcoin goes through its cycle.