SOPA Images/LightRocket via Getty Images
"The biggest change that has happened and the real reason bitcoin went down from $69,000 to near $20,000 is that [Fed chair] Jay Powell decided to find his central banking superpowers and start bashing inflation over the head with a series of rate hikes," the Galaxy Digital chief executive told, rowing back his prediction that bitcoin will rocket to $500,000 by 2027 but claiming it will still reach that level eventually.
"The Fed's in control and they're doing a darn good job and that's the main reason why crypto went down," Novogratz said, adding a slew of crypto company scandals has piled pressure on the market. "The rest of this malarkey that we've had between Three Arrows and BlockFi and Celsius and all these companies that were either poorly run or fraudulently run certainly is hurting the overall confidence in crypto."
This year, the Fed has lifted interest rates to levels not seen since before the 2008 financial crisis
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin, Ethereum Technical Analysis: ETH, BTC Higher Following US Nonfarm Payrolls Report – Market Updates Bitcoin NewsEthereum moved closer to the $1,300 level on Dec. 2, as prices remained near a multi-week high. Bitcoin is trading above $17,000. AIRDROP
Source: BTCTN - 🏆 531. / 51 Read more »
One of Wall Street's biggest bulls now sees stocks falling early next year as Fed 'overtightens'Once one of Wall Street's most vocal bulls, JP Morgan Chase & Co. equity analyst Marko Kolanovic released a much more downbeat outlook for stocks on...
Source: MarketWatch - 🏆 3. / 97 Read more »
Why Oakland is naming this street after one of its biggest hip-hop iconsThe rapper, whose love for Oakland and his favorite word is known far and wide, will be honored on the street where he once attended high school and sold his cassettes.
Source: OakTribNews - 🏆 597. / 51 Read more »
Here are Thursday's biggest analyst calls: Apple, Amazon, Tesla, Chipotle, Capital One, United & moreHere are Thursday's biggest analyst calls: Apple, Amazon, Tesla, Chipotle, Capital One, United
Source: CNBC - 🏆 12. / 72 Read more »
21 Savage & Nas Team Up for Fiery Collab ‘One Mic, One Gun’: ListenRumors of a feud between 21 Savage and Nas can officially be put to rest as they team up for 'One Mic, One Gun.'
Source: billboard - 🏆 112. / 63 Read more »
One killed, one injured in Castle Rock apartment shootingA person was killed and another was injured in a shooting after a fight early Tuesday morning in Castle Rock.
Source: denverpost - 🏆 13. / 72 Read more »