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Billionaire Investor claims Bitcoin will take significant time to hit $500k

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Mike Novogratz explained his opinion on the future Bitcoin price prediction and claimed that the next half of a decade will not be enough for Bitcoin to hit the $500k trade price.

Bitcoin is a top biggest crypto asset, which doesn’t need any kind of introduction to crypto Investors. The all-time high of Bitcoin was $69k, which hit in the 2021 Crypto bull run. The current trade price of Bitcoin is $17k, which means it is down by approximately 4 times over its all-time high.

Recently Bloomberg covered a report on behalf of an interview with Billionaire investor Mike Novogratz. The report noted that Novogratz also believes that the current market situation is not much better for the increment in the price of crypto assets including Bitcoin.
In the interview, Billionaire investor said that Bitcoin will surely hit $500k but it will not happen shortly, at least in the next 5 years, it is because now Federal Reserve chairman Jerome Powell found “his central banking superpowers.”

In the present time, almost all the crypto assets are facing a tough situation and failing to grab significant increments and touching a new low every month of 2022, thanks to the collapse of many popular & good crypto projects because of the mismanagement by the corresponding backend team.

Further, Novogratz noted that the majority of crypto Investors are not confident to invest funds in crypto assets because of the rapid downfall in the trust level, every month this year.
In particular, he said that FTX’s collapse, along with that of hedge fund Three Arrows Capital and lenders, Celsius Network and BlockFi, certainly hurt “the overall confidence in crypto, but that too shall pass.”
The statements by Novogratz hinted that he is thinks that people will not forget this current situation soon and it will take huge time to see recovery.

Read also: AI predicts Cardano (ADA) may surge by 30% in the next 30 days

Billionaire Investor claims Bitcoin will take significant time to hit $500k

 

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