992: BILLIONAIRE MIKE NOVOGRATZ INSISTS BITCOIN STILL ON TRACK TO HIT $500K - HERE’S WHEN!!

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3.6 • 626 Ratings

🗓️ 20 July 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin is still on track to hit $500,000 over the next five years, according to billionaire crypto investor Mike Novogratz. He also admitted he was “wrong” about the extent of the leverage in the industry. Novogratz, the founder and CEO of Galaxy Digital Holdings Ltd, told Bloomberg at a summit on July 19 that demand for the cryptocurrency would be driven by higher rates of adoption and global economics. “It’s not like diving with two feet right now because institutions are a little bit more cautious. But once we get balance, once we get equilibrium and start a new narrative they’ll come back. When I look at the global landscape, I just don’t see how fiscal prudence gets put back into a box.” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The five-pound meal deal from McDonald's.
0:02.7	Get a cheeseburger or mayo chicken, medium fries, four McNuggets, and a medium soft drink for guess what?
0:08.4	That's right, five pounds.
0:11.3	It's not called the five-pound meal deal for nothing.
0:14.8	From 11 a.m., not available on delivery.
0:16.8	Carbonated soft drink upgrade fees apply.
0:18.3	Participating restaurants, subjects of availability.
0:19.8	In today's show, Bitcoin holds five-week high. As trader suggests, the parabolic bear trend is over.
0:25.8	In today's show, I'll be breaking down the latest technical analysis, including crypto-trader.
0:29.7	I am not the wolf. The US dollar currency index has broken the parabolic trend that has been formed since January 7th, 2021.
0:36.9	It's time to pay attention, including Trader J.
0:39.4	Local bottom is very close. We might see a big rally around $40,000. The Bitcoin can dump to $25,000
0:45.3	before the bull run starts. And as well, MAPS shares here, Bitcoin update, 27,100 should be the first
0:51.7	resistance on our way up. Big gap in supply between the current prices and
0:56.1	$27,000. And as shared here by Plan B, dark blue to light blue, Bitcoin is getting stronger. Also in
1:02.8	today's show, here is the most compelling chart in all of crypto, according to top on-chain
1:07.0	analysts, Will and Clemente, quitting him here. In my opinion, this is the most compelling
1:11.2	chart in crypto when large amounts of stable coins are on the sideline relative to the crypto market
1:16.0	cap. Market participants have to chase the rally higher when there is a lot of stables deployed,
1:21.2	but no one left to buy. Market runs out of new buyers. Also in today's show, we'll be discussing
1:25.4	the free city of Prospera in Honduras. And if this
1:28.4	island city's Bitcoin standard can pave the way, as well as top crypto strategist says Bitcoin
	...

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