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 prediction speaking at the conference but this is not the first time that the billionaire would be making such a prediction. Pushing Bitcoin To $500,000 Novogratz who put bitcoin at $500,000 in the next half-decade had shared thoughts behind this prediction. One of those had been the economy and the growing inflation rates that have been plaguing it. The Federal Reserve had been working non-stop with increasing interest rates and stuff but the billionaire notes that once the Fed begins to take a pause from all of this, then the digital asset would resume its upward movement. Related Reading | Bitcoin Trading Volume Continues To Remain At Low Levels The billionaire expects that not only will the central bank raise interest rates due to the high inflation, but it will also likely raise these interest rates by as high as 50 basis points. However, this cannot continue on forever and the Fed will eventually need to ease up. This is when Novogratz predicts that bitcoin will go “to the moon”. This is what the billionaire expects will push the price of the digital asset as high as his $500,000 prediction. BTC trading at $...
