Crypto
Mike Novogratz Says Bitcoin’s Drop Is Air Being Popped Out of Balloon
The billionaire crypto bull says investors got ‘too excited,’ but still believes the digital asset is a store of value in the long run.
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For billionaire Mike Novogratz, Tuesday’s sudden plunge in Bitcoin was the consequence of investors having gotten a little too excited.
The market for cryptocurrencies was running strong over the last eight weeks, and became overbought, though for good reasons, according to the long-time crypto bull.