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Bloomberg Intelligence senior commodity strategist Mike McGlone says Bitcoin's (BTC's) relative discount to its high hash rate in October — the largest since the first quarter of 2020 — could soon see Bitcoin return to "its propensity to outperform most assets."In an Oct. 19 Twitter post, the Bloomberg analyst suggested that
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Bitcoin price has been a topic of debate since the digital asset first made its entry into the mainstream over a decade ago. With its continued growth, a lot of people have come forward to proffer their predictions for the price of the cryptocurrency both in the long and the
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Summary: Bitcoin proponent Mike Novogratz reaffirmed his infamous “$500K in 5 years” prediction during the Bloomberg Crypto Summit.Novogratz made similar remarks back in March a few weeks before the markets tanked.Since his March comments, Bitcoin has fallen below $20,000 and bounced back above the same level.The leading cryptocurrency is in a
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With the recent Bitcoin price crash has come a number of speculations out of the market. Amateurs and experts alike have been giving their predictions on what they believe will happen going forward. While most have been bearish, the forecast from Mike McGlone is a rather bullish one. The Bloomberg
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As for how Galaxy Digital (GLXY.TO) and others might navigate the next bull market, Novogratz says to "fight the impulse to be so greedy." Those who got into Luna early enough had an easy 300X return, he said, and that's just not reality in the markets. "When ecosystems go real
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The round was led by 6th Man Ventures, the investment firm of The Block's founder Mike Dudas. Source
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Summary: Mike Novogratz believes that Bitcoin will lead the next rally when the US Federal reserve pauses its monetary tightening policy. When Bitcoin rallies, good crypto projects will follow suit. According to Mr. Novogratz, the crypto industry will not go away and is currently adjusting to the popping of the asset bubble caused
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Summary: Mike Novogratz has warned the crypto community against picking price bottoms as it is dangerous. He also pointed out that most altcoins are down by over 80% from their highs, and the losses in the 2018 bear market were over 95%. Consequently, altcoins will likely drop by another 70% from their current
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The tweet links to a longer letter in which Novogratz reminded readers that it has been a "brutal macro backdrop" for all risk assets in 2022, with any number of growth stocks down 50%-70%, core crypto assets like bitcoin (BTC) and ether (ETH) off nearly 60%, and altcoins lower by
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Mike Novogratz has once again reiterated his support for the $500,000 future prediction for bitcoin. The Galaxy Digital CEO who was recently at the Bitcoin 2022 conference held in Miami had spoken in favor of the cryptocurrency once more, highlighting the future potential of the digital asset. Novogratz gave his
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