{"id":70966,"date":"2022-12-05T10:37:30","date_gmt":"2022-12-05T08:37:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70966"},"modified":"2025-09-08T05:20:18","modified_gmt":"2025-09-08T02:20:18","slug":"mike-novogratz-reiterates-forecast-that-bitcoin-will-reach-500000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-reiterates-forecast-that-bitcoin-will-reach-500000\/","title":{"rendered":"Mike Novogratz reiterates forecast that Bitcoin will reach $500,000"},"content":{"rendered":"<p>Mike Novogratz, founder of Galaxy Digital, in a Bloomberg Television interview, has kept his forecast that Bitcoin would reach $500,000.<\/p>\n<p>In his view, Bitcoin will need more than five years to reach the target due to meaningful changes in macroeconomic conditions. Earlier, Novogratz had forecast such a rise within five years.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe reason Bitcoin fell from $69,000 to $20,000 is the decision by [Fed Chair] Jerome Powell to unleash the central bank&#8217;s newfound power and begin fighting inflation with a series <a href=\"https:\/\/u1f987.com\/en\/news\/fed-raises-key-rate-bitcoin-edges-lower\">rate hikes<\/a> from 0% to 4%,\u201d he explained.<\/p>\n<\/blockquote>\n<p>For this reason, all assets considered inflation hedges fell in price, added Novogratz.<\/p>\n<p>In early October, the founder of Galaxy Digital said Bitcoin would resume its rise after the Fed <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-bitcoin-set-to-rise-as-fed-policy-eases\">refrains from aggressive rate hikes<\/a> to fight inflation.<\/p>\n<p>Earlier, in December, Novohr\u00e1ts called Sam Bankman-Fried&#8217;s statements regarding the <a href=\"https:\/\/u1f987.com\/en\/news\/how-the-collapse-of-ftx-and-alameda-research-will-affect-the-crypto-industry\">FTX collapse<\/a> &#8216;nonsense&#8217; and <a href=\"https:\/\/u1f987.com\/en\/news\/mike-novogratz-calls-sam-bankman-frieds-statements-delusional\">urged accountability<\/a>.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike Novogratz, founder of Galaxy Digital, in a Bloomberg Television interview, maintained his forecast that Bitcoin would reach $500,000.<\/p>\n","protected":false},"author":1,"featured_media":70967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1303,1138],"class_list":["post-70966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=70966"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70966\/revisions"}],"predecessor-version":[{"id":70968,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/70966\/revisions\/70968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/70967"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=70966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=70966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=70966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}