Galaxy Digital CEO "Bitcoin could trigger a bull market if the next Fed chair is dovish"
Suehyeon Lee
Summary
- Mike Novogratz, CEO of Galaxy Digital, said that if the next Fed chair is dovish, it could trigger a Bitcoin bull market.
- Novogratz said the Fed's rate cuts and the appointment of an ultra-dovish official could be the biggest bullish catalyst for the entire crypto asset market.
- He said Bitcoin could go through a 'blow-off top' phase and reach $200,000.
Mike Novogratz, CEO of Galaxy Digital, said that if the selection of the next chair of the Federal Reserve (Fed) leans dovish, it could trigger a Bitcoin (BTC) bull market.
On the 27th (local time), according to Cointelegraph, Novogratz said in a YouTube interview, "If the Fed cuts rates when it shouldn't, and a super-dovish official comes in, it could be the biggest bullish catalyst for Bitcoin and the entire crypto asset (cryptocurrency) market." He emphasized that in that case Bitcoin could enter a 'blow-off top (rapid rise followed by a sharp fall)' phase. Novogratz also said, "I think Bitcoin can reach $200,000," adding, "From that moment, a completely new conversation will begin."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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