Mike Novogratz, founder and CEO of Galaxy Digital, known for his comments on Bitcoin (BTC) and cryptocurrencies, made statements about the bear market and inflation.
Stating in his previous statements that BTC and cryptocurrencies will not initiate a new rally as long as the FED continues its aggressive monetary policy, Novogratz reiterated this thought, “I think once the Fed changes its monetary policy, you will see cryptocurrencies in a general rally.” said.
“Bitcoin was also sold along with other assets as the Fed decided to curb inflation by aggressively raising interest rates.
But when the FED takes a break, you will start to see Bitcoin and all cryptocurrencies pick up along with BTC.”
Commenting on how long the bear market will last, the famous CEO also gave a date on this issue:
“You know the bear market. I think we have two to six months until the pain of this bear market is over.
Bulls generally start when the market starts to break and we are seeing a lot of breakouts in the market right now. Not necessarily in the crypto market, we see similar breakouts in all markets except crypto.”
Finally, Mike Novogratz stated that many investors are selling Bitcoin and cryptocurrencies due to the aggressive sharing of the FED.many people who needed to sell sold their crypto, and sellers drastically reduced. “ said.
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