• Mike Novogratz, a bitcoin bull and hedge fund manager, predicts that BTC will see a major price boom in the last months of 2023.
• The Federal Reserve hinted that there may be rate hikes this year and a “mild recession” at the end of the year.
• Novogratz believes BTC will reach $40K by the end of 2023, adding about $200 billion to the crypto space.
Bitcoin has been having an impressive run since the beginning of this year, with its price reaching around $30K per unit for the first time in 10-11 months. Bitcoin bull and billionaire hedge fund manager Mike Novogratz is predicting that BTC will experience a major bull run towards the end of 2023.
The Federal Reserve’s Plans for 2023
Recently, The Federal Reserve mentioned that this year could witness more rate hikes but not as aggressive as 2022. They also indicated that there could be a “mild recession” during late 2023.
Mike Novogratz’s Predictions
Novogratz stated his confidence in The Federal Reserve’s plans and predicted that if it plays out as he expects it to, then bitcoin could reach up to $40K by late 2023 which would add approximately $200 billion to the crypto space. He suggested investing in gold, euro and Ethereum as well along with bitcoin for maximum benefit from these maneuvers.
2022 vs 2023
2022 was one of the worst years on record for BTC where it lost more than 70% of its value after hitting an all-time high back in November 2021 when it was trading at around $68K per unit; however by late 2022 it had fallen into mid-$16K range. In contrast, 2023 is already looking much brighter and better for bitcoin due to The Fed’s planned measures against inflation which caused so many problems last year.
It appears that this year won’t repeat 2022’s mistakes when it comes to bitcoin and other digital assets; instead we may witness a major bull run towards the end of 2023 if everything goes according to plan for both The Fed and Mike Novogratz who is confident that his predictions will come true!