Galaxy Digital CEO Mike Novogratz stated that the Bitcoin price will continue to rise after the US presidential elections.
In an interview with the Unchained YouTube channel, Novogratz predicted that Bitcoin (BTC) would start a new bull cycle no matter who wins the US presidential elections. The famous CEO emphasized that if Kamala Harris wins, the bull cycle in question will be delayed.
Novogratz noted the following;
“I think if Trump wins, we will exceed $73,000 and rise much faster. “If Harris wins, we will probably drop below $50,000 and then rise rapidly.”
Expectations for Bitcoin are positive
Galaxy Digital CEO Mike Novogratz remains positive for the crypto market, but is concerned about the financial situation of the United States. Novogratz believes that the only way out for the United States to pay off its debt, which has reached record levels, is to devalue the dollar. The crypto CEO thinks the activity in question may work, but could trigger inflation.
Novogratz said:
“To clarify my macro view, I think the chances of the US recovery are really low. “The best we can hope for is to have talented people in the necessary positions who can keep inflation between 4 percent and 5 percent, keep it from accelerating, and keep the debt from ballooning.”
According to Novogratz, the economic steps taken by the USA will attract investors to the crypto market. Expectations of asset protection against inflation and valuation of assets may trigger the rise of the crypto market.
The US national debt, underlined by Novogratz, has exceeded $35 trillion. Economists think that the USA will have to go for monetary easing soon.
According to CoinGecko data, BTC recorded a transaction volume of $36 million in the last 24 hours.
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