Mike Novogratz, a billionaire investor and CEO of Galaxy Digital, said the Bitcoin market is in good shape, noting that he has “so much capital coming into space.” He also commented on China’s growing influence in the crypto market.
Billionaire investor says market is ‘in good shape’ – ‘I’m not nervous’
Galaxy Digital CEO Mike Novograts on Friday commented on the latest news of China’s crackdown on the crypto market and cryptocurrency.
He explained that the crypto market was down for three reasons. The first is that China is repeating its anti-crypto and anti-independence stance. The second is the US Federal Reserve “tapping into speed”, and the third is the level of large overhead resistance for bitcoin and ether. Novogratz noted that he believes BTC and ETH will merge.
At the time of writing, Bitcoin is priced at $ 43,695 and Ether is priced at $ 3,090 based on data from the Bitcoin.com market.
Moreover, the CEO of Billionaire believes that the Bitcoin market is in good shape. In an interview with CNBC last week, he explained that $ 40,000 for Bitcoin and $ 2,800 for Ethereum were “very important levels for people to watch.”
As long as there is, I think the market is in good shape.
Novogratz added: “I have seen nothing but engagement activities from our investor clients and our corporate clients. The level of investigation, the level of business did not increase. He continued:
We see a lot of capital coming into space, both privately and publicly. I’m not nervous.
Commenting on the price of cryptocurrencies, especially China’s influence on BTC and ETH, Novogratz said: “Five months ago, China originally said that we were banning cryptocurrencies, so the miners left China.
He continued: “China has never been a great source of innovation in space but it was a great source of trade and I think there is still a lot of trading in China. The Chinese are smart, they know how to use VPN, but it’s harder and harder and so I think it Less and less important.
Do you agree with Mike Novogratz? Let us know in the comments section below.
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