Galaxy Digital CEO, billionaire Mike Novogratz, argues that the crypto money market is slowly cleaning up, while he thinks that the Digital Currency Group (DCG) crisis will not create much selling pressure on Bitcoin (BTC) and cryptocurrencies and will not affect prices.
Mike Novogratz January 10 In an interview with CNBC on “terrible” not but recently “optimistic” also to be sufficient not expressed. According to Novogratz, the current situation is the biggest of the advantages one on the market your leverage decrease and in his words “clean market” While it is being created, the year 2023 will be quite a year for cryptocurrencies and crypto money companies. important described as a year. The CEO also DCG sales caused by the crisis to worry will require until big that it won’t be He stated that he believed.
DCG Crisis Will Cause Sales But Prices Will Not Be Affected
On the corporate side DCG, Genesis and Gemini Referring to the crisis, Novogratz made a sale as a result of this event. can happen but this sale it won’t be too big and Cryptocurrency prices will not be affected. stated. However, Novogratz it’s not good news underlined. In addition, the effects of the crisis are likely in the next quarter to the balance sheets will reflect also emphasized.
We’re Not Bad, But It’s Too Early To Be Optimistic
Cryptocurrency ecosystem lots bad not watching Bitcoin (BTC) and Ethereum (ETH) this month to scandals and negative to the news despite stable Novogratz said that this bear market is different from the past markets. regulation factor of effective stated that. CEO, actors in this period will cut costs and in the transition period to survive will work told.
The Market Is Now “Cleaner” Thanks to the Decline
Novogratz, bear market positive one of the effects of leveraged from transactions cleaning up claimed it was. Most leveraged transactions drop during liquidation Stating that he had to be one of the factors of bull onset He stressed that he was one.