Famous crypto billionaire Mike Novogratz shared his predictions for when the Bitcoin price will rise again.
Galaxy Digital’s CEO says comeback is imminent
According to Novogratz, the Fed will likely raise rates a few more times before easing monetary policy. Galaxy Digital’s CEO claimed in an interview with CNBC on Tuesday that if Fed Chairman Jerome Powell “stops fighting”, the Bitcoin price will “return right away.”
The cryptocurrency billionaire says the market will calm down once Powell withdraws. Novogratz thinks Powell will need to raise rates a few more times. Galaxy Digital CEO predicted October as a comeback month:
Of course, Bitcoin, like many other assets, bounced back when Powell started smashing inflation upside down with a sledgehammer. If he gives up on this fight, you will see Bitcoin and other assets pull back immediately.
"When Powell started beating inflation over the head with a sledgehammer, of course #Bitcoin came back down as did lots of assets," says @novogratz. "If he gives up this fight, you're going to see Bitcoin and other assets take right back off." pic.twitter.com/pXTVowzl3t
— Squawk Box (@SquawkCNBC) October 4, 2022
According to Novogratz, Japan is a “big problem”. According to the crypto phenomenon, there are “major” imbalances all over the world. For example, the Japanese central bank constantly buys its own government bonds. However, it is trying to keep interest rates almost zero. Novogratz in an interview with CNBC
One of the biggest risks in the world is Japan. They just keep buying and they keep buying and they keep buying
Japan spent 2.8 trillion ($19.7 billion) yen last week to support its currency. The staggering figure surpassed the previous record set in 1998.
Novogratz remains bullish for Bitcoin and altcoins
Novogratz said it is still bullish despite the overwhelmingly bearish market sentiment. According to Novogratz, two assets that could protect investors from potential mistakes made by central banks are cryptocurrency and real estate. Along with stocks, Bitcoin is currently experiencing a significant rise. As you follow on Kriptokoin.com, it rose as high as $20,182.42 today before experiencing a correction.
Robert Kiyosaki calls Bitcoin a ‘safe haven’
Another market expert, Robert Kiyosaki, described Bitcoin, silver and gold as a “buying opportunity” amid the rise in the US dollar and interest rates. Meanwhile, Mike Novogratz thinks cryptocurrency and real estate are safe havens for that matter. However, according to Kiyosaki, they are safe havens that can protect from mistakes in the face of inflation in precious metals.
Kiyosaki shared a tweet for his 2.1 million Twitter followers, stating their predictions on the subject in question. She predicted that the prices of three commodities often referred to as “safe haven” assets will continue to decline as the value of the US dollar rises. According to Kiyosaki:
If the Fed continues to raise interest rates, the US dollar will strengthen, causing gold, silver and Bitcoin prices to fall. Buy more. When the FED rolls and lowers interest rates like the UK did, you’ll smile while others cry. Be careful.
BUYING OPPORTUNITY: if FED continues raising interest rates US $ will get stronger causing gold, silver & Bitcoin prices to go lower. BUY more. When FED pivots and drops interest rates as England just did you will smile while others cry. Take care
— therealkiyosaki (@theRealKiyosaki) October 2, 2022
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