Bitcoin now faces a tougher path to eventually reaching $500,000, according to Mike Novogratz - with the Galaxy Digital chief executive backing down from his previous BTC price prediction that the king crypto would hit that level within five years.
Novogratz said in a recent interview that the Federal Reserve's monetary-tightening campaign led by chairman Jerome Powell has been the key factor that caused the Bitcoin price to plunge 63% to just under $17,000 this year.
"No, not in five years," he told Bloomberg TV when asked about a previous prediction he'd made that Bitcoin would hit $500,000 by 2027.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Bitcoin News Alerts | Daily BTC News