Billionaire Mike Novogratz believes Bitcoin’s big price drop this week is no surprise.
The value of the top coin plunged by 17% to $43,050 on Tuesday, its lowest price in nearly a month.
In a new interview with Bloomberg TV, the CEO of digital asset firm Galaxy Digital says BTC became overbought as a series of fundamental factors and positive news stories triggered hype among investors.
[0:32] “The market got too long. It got long for good reasons. I think in the last eight weeks, there has been a giant realization that crypto’s not just Bitcoin being bought as a hedge against bad monetary and fiscal policy, but maybe more importantly, it’s web 3.0. It’s the internet of value transfer…
[0:52] When you see companies like Visa buying an NFT and saying they think digital goods is a big part of their future; Walmart and Amazon, the two biggest retailers in the world putting up help wanted for