The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees “so much capital coming into the space.” He also commented on the dwindling influence China has over the crypto market.
Billionaire Investor Says the Market Is ‘in Good Shape’ — ‘I’m Not Nervous’
Galaxy Digital CEO Mike Novogratz commented on the crypto market and the latest news of China’s crackdown on cryptocurrencies Friday.
He explained that the crypto market was down for three reasons. The first is China reiterating its anti-crypto and anti-freedom stance. The second is the U.S. Federal Reserve “putting taper in motion,” and the third is the big overhead resistance level for bitcoin and ether. Novogratz noted that he believes BTC and ETH will consolidate.
At the time of writing, the price of bitcoin stands at $43,695 and the price of ether stands at $3,090 based on data from Bitcoin.com Markets.
Furthermore, the billionaire CEO believes that the bitcoin market is in…