Galaxy Digital CEO Mike Novogratz, known for his support of Bitcoin and cryptocurrencies, talked about Bitcoin predictions.
Speaking to Fox Business, Mike Novogratz said that he continues to rise in Bitcoin.
The famous CEO, who predicts that BTC will rise to higher levels in 2023, stated that the US banking crisis and the expectations that the FED will slow down the rate of interest rate increase are the main catalysts for the rise of BTC.
Pointing out that the FED will have to reduce interest rates in 2023, Novogratz stated that this situation will support the Bitcoin and crypto money markets in an upward direction.
Novogratz also argued that interest rates may already be too high.
“My estimation is that the Fed will start lowering interest rates from mid-summer.
And this move will make the BTC and cryptocurrency market rise.
The price of Bitcoin, which I see as digital gold, will also increase because Bitcoin feels such events.
Also, BTC has grown significantly this year despite facing many challenges such as the Binance lawsuit and the Wells notification that Coinbase received. Bitcoin has proven to be resilient.”
Bitcoin, which has increased by 70% since 2023, continues to be traded at $ 27,932 at the time of writing.
*Not investment advice.