Popular billionaire investor and CEO of Galaxy Digital Holdings Mike Novogratz has made another positive prediction for the top cryptocurrency Bitcoin (BTC). Novogratz states that there will be a price increase after a development in Bitcoin.
One of the most important factors for BTC according to Novogratz FED
According to Mike Novogratz, CEO of Galaxy Digital, Bitcoin price will rise tremendously when the United States apex bank Fed “pauses” . Novogratz said he believes the Fed will raise interest rates by up to 50 percentage points in its bid to cut inflation. If this happens, the famous CEO states that the US economy will slow down, which may cause the central bank to step back a bit. Novogratz comments on this:
While I sleep, I pray that the officials of the US economy don’t ruin it, I pray that the dollar is strong and doesn’t go to infinity. Because Bitcoin going forever means that the rest of the Western world is really falling apart.
The cryptocurrency billionaire emphasizes that he is optimistic that Bitcoin can surpass the all-time high of $69,044 recorded in November 2021 as long as conditions in the West are stable. Novogratz revealed recently that Bitcoin was traded with the traditional financial instrument Nasdaq 100.
Galaxy Digital CEO, optimistic about Bitcoin
The CEO of the famous company adds that the leading cryptocurrency may be in the process of abandoning its alliance with Nasdaq. While many look forward to the day when Bitcoin will be used to buy everyday items, Novogratz says he believes the cryptocurrency will become a store of value where he will take some of his wealth and “store it there.” As
Kriptokoin.com, the leading cryptocurrency Bitcoin (BTC) has experienced some ups and downs since the beginning of this year. Despite Bitcoin’s volatile price action, Novogratz has always stood behind the cryptocurrency. Earlier this year, Novogratz, who made a $1 million bet against Bitcoin critic Peter Schiff, stated that Bitcoin will be trading above $35,000 by the end of the year.
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