The cryptocurrency market continues to struggle with harsh winter conditions. However, the current situation is working against the circumstances. The US CPI data, which came above the latest expectations, was also a headwind to the market. On the other hand, leading crypto Bitcoin and altcoins made an upward move ahead of the weekend. While this will make you say ‘I wonder’, crypto billionaire Mike Novogratz advised crypto bulls to lower their expectations.
“Crypto bulls, don’t get your hopes up too much, not yet!”
cryptocoin.comAs you follow, the weather conditions in the cryptocurrency market are changing very quickly. Just as the end of winter is coming, stronger winds are hitting the market. US NFP and US CPI data, which created a favorable environment for the Falcon Federal Reserve, led the market to lows in the south.
Surprisingly, however, cryptocurrencies took a hit ahead of the weekend. While a new moon market rally was about to begin, cryptos quickly ran out of breath. Galaxy Digital boss Mike Novogratz says in a recent tweet that upcoming market rallies will likely subside. The famous crypto billionaire shared the following:
This is a battle between “Hope and Data”. The bulls hope the economy will slow down. However, the data tells us it’s not yet, or even close. Short closing rallies will fade until the data reverses. U Mich stopped the comeback on its tracks.
Cryptocurrency billionaire bullish on Bitcoin in the long run
According to Mike Novogratz, the bulls are moving in hopes that the US will eventually slow down. However, the crypto billionaire claims that this is not the case at all. cryptocoin.comNovogratz has repeatedly stated that the cryptocurrency market is unlikely to recover without a potential Federal Reserve pivot. However, hopes for a more cohesive monetary policy dwindled after the latest data.
Galaxy Digital boss Mike Novogratz predicts the Fed will raise interest rates ‘several times’. Earlier today, Bitcoin came close to regaining the $20,000 level. However, it later lost strength and retreated towards the $19,000 levels. Also, Novogratz recently warned that the cryptocurrency market will not bounce back immediately after a major correction. However, the crypto billionaire remains bullish on the leading cryptocurrency in the long run. In line with this, he said last month that the Bitcoin thing plays out ‘every day’.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.