Bitcoin price unlikely to drop below $50,000 unless 'something dramatic' happens, says Galaxy's Novogratz
Bitcoin is currently trading at around $73,000, and it is unlikely to fall below $50,000 unless a significant event occurs, according to billionaire Mike Novogratz, founder and CEO of Galaxy Digital. Bitcoin has been rallying mainly due to continuous inflows into recently approved spot bitcoin exchange-traded funds in the U.S. and, as long as net inflows are positive, the bitcoin price will keep going higher, Novogratz told CNBC in an interview Wednesday.
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