Posted 2/29/2024, 9:41:00 PM
Bitcoin Due for Pullback Before Hitting New Highs, Billionaire Novogratz Predicts
- Bitcoin will likely see a correction before rallying to a new record high, according to billionaire Mike Novogratz
- Novogratz predicts bitcoin could fall to around $50,000 before surging higher later this year
- The crypto market has become overly leveraged as investors chase the recent highs
- Spot bitcoin ETFs are bringing more retail investors into the market, some of whom could get burned
- Over the long term, baby boomer wealth flowing into bitcoin could push the price over $69,000, its previous all-time high