Mike Novogrtaz, the founder of crypto investment company Galaxy Digital, made evaluations about Bitcoin in CNBC’s Squawk Box program, which he attended after the drop in Bitcoin yesterday.
Saying that the price of the leading cryptocurrency Bitcoin will find support at the level of $ 38,000, Bitcoin bull Novogrtaz stated that he sees this decline as a natural retreat after BTC’s records in 2021.
The famous billionaire used the following statements after admitting that the drop in Bitcoin was harsh:
“We are seeing tremendous institutional demand for Bitcoin. So I am not worried about the performance of BTC in the medium term.”
Defending that the bottom level in Bitcoin will be $ 38,000, Mike Novogratz said that he expects to see more volatility in BTC in the coming weeks.
In his previous statements, Mike Novogratz, who said that he maintains his optimism about Bitcoin as new investors continue to come to the crypto money market, claimed that there is a bottom level in Bitcoin and that it is $ 42,000.
After the FED announced the meeting minutes in December, Bitcoin and cryptocurrencies were also affected by the sharp fall in the US stock markets, and the crypto market fell sharply within minutes.
In addition to the FED minutes, the events in Kazakhstan, one of the Bitcoin mining centers, are also considered to strengthen the BTC decline.
While the effect of the FED minutes still continues in Bitcoin, the “fear and greed index” was calculated as 15 points out of 100.