Bitcoin Price Prediction from Crypto Billionaire!

Cryptocurrency billionaire and phenomenon Mike Novogratz continues to see a strong bullish trend for the price of Bitcoin as many fiat currencies continue to lose value against the dollar.

Mike Novogratz says he will take advantage of disequilibrium for Bitcoin price

Recently, the billionaire investor shared his intentions for the crypto market. Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital. Novogratz points out that many cryptocurrencies are losing value against the dollar. In a different form, it predicts a bullish situation for Bitcoin in this environment. Novogratz also noted that the Turkish Lira, Argentine Peso and other fiat currencies all experienced vertical declines. Meanwhile, the strength of the dollar reached its highest level in the last 20 years. The difference, according to Novogratz, makes it hard to imagine things “breaking down” in the long run.

Novogratz has repeatedly predicted that if the Fed continues its fiscal easing, the Bitcoin price will rise. But there is currently no sign that the Fed will change its hawkish stance on monetary policy. The central bank recently applied its third consecutive 75 basis point rate hike. It is now ready to continue raising rates in the future to control inflation.

Some followers were skeptical of Novogratz’s latest interpretation of the apocalypse. “The ponzi scheme is failing badly,” one user tweeted. Another Twitter user recalled how the billionaire showed off his famous Luna tattoo before the project’s failure in May.

Mike Novogratz explains when we will see a rally in the cryptocurrency market

Novogratz’s ‘rally predictions’ came from an interview with Andrew Ross Sorkin on CNBC’s “Squawk Box”. Novogratz said about Ethereum and Bitcoin:

Ethereum suffered a huge drop. Merge is complete. I think we’re going to look at it as something really valuable. Ethereum previously went from $1,000 to $2,000. As a matter of fact, we are now experiencing a great retreat. The bottom point here should be $1,250 and that’s why I think you’re closer to the bottom than the pinnacle…

Novogratz, referring to historical information, said that the last drop was not a ‘disastrous one’. The cryptocurrency phoneme says that one of the reasons for the decline, the Fed will also trigger the next rally:

There is a stake in Bitcoin somewhere, because you see all of these institutions slowly coming into play. When I see this adoption when I see BlackRock making a settlement with Coinbase and its own funds… Sure it could be, but I don’t think it’s a catastrophic drop… We expect to see a more neutral and Fed pivot here. Then I think you’re going to see a big, big rally in crypto. As you follow, BTC is currently trading at $19,092.21. Meanwhile, Ethereum price was trading above $1,300.

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