Cryptocurrency industry There was an earthquake last night. Bitcoin (BTC) Losing the support of $ 40,000 suddenly caused a liquidation of $ 750 million within 24 hours.
Although this move of BTC breaks everyone’s hopes a little, it seems that a famous billionaire will not give up easily.
Galaxy Digital CEO and former Goldman Sachs with manager Mike Novogratz He is determined not to lose faith in BTC.
Novogratz expressed his thoughts after the last sale. BTC to $37,700 However, Novogratz’s statements give hope.
The analyst stated that this decline was actually caused by the stock market and the commodity market entered a bear market. The famous billionaire stated that there is currently $ 1.2 trillion in bad bond-focused long positions.
BTC Starts Finding Support
Novogratz thinks that this crisis happened last night in the crypto money industry.
Novo stated that the rise of cryptocurrencies will not come until stocks and commodities find solid ground.
According to the famous name, the crypto money industry has already started to find support, as it has already had a serious sale.
In summary, Novo says that there has been or will be a collapse in all markets, but BTC has survived this fall early and has already reacted and survived the downward wave that will come to the markets.
2) crypto will have a hard time rallying until stocks find a base. That said, crypto already had a decent sell off and is running into some buying support.
Finally, the best traders get good at gallows humor 😂
— Mike Novogratz (@novogratz) January 20, 2022
Galaxy Digital CEO had previously stated that BTC could drop to $ 38,000, and he was right in this prediction.
Now, with Novogratz hinting that the ground is starting to solidify and the sale may be over, it may give investors the hope they want.
Bitcoin price is currently trying to hold at $38,800, with $38,000 still offering support.