Galaxy Digital CEO Mike Novogratz said in his latest post on stated. Novogratz argues that such macro-financial conditions Bitcoin He believes that it will be useful for precious metals as well. “This is a great environment for BTC, gold, silver and copper,” he noted. Novogratz also announced that he is concerned about the federal budget deficit in the United States.
Novogratz had previously predicted that the price of the largest cryptocurrency could exceed the $100,000 level in 2024, citing Bitcoin ETFHe showed the “momentum” in ‘s. Last April, the billionaire said Bitcoin would be in a “sweet spot” if the Fed started lowering interest rates again.
However, the likelihood of the Fed cutting interest rates three times this year has decreased significantly, Reuters reported. In fact, futures traders now see a less than 50% chance of a rate cut in June. Recent economic data that once again reveals the resilience of the US economy may deter the Federal Reserve from pursuing a more dovish monetary policy.
Is Bitcoin About to Fall?
As Koinfinans.com reported, on April 8, the Bitcoin price once again managed to rise above the $ 72,000 level. cryptocurrency The community is excited about the upcoming Bitcoin halving event, which many cite as one of the major bullish catalysts for the cryptocurrency. However, former BitMEX CEO Arthur Hayes believes that the Bitcoin price will decline around the halving as the bullish narrative surrounding this event is “well established.”
