THELOGICALINDIAN - Bitcoin Dips Should Be Bought Galaxy Digital CEO Mike Novogratz
Bitcoin underwent a able bounce due to two pieces of account over the accomplished few days. First and foremost, it was appear that President Trump has activated absolute for COVID-19. Secondly, the U.S. CFTC and added agencies answerable BitMEX over anti-money bed-making apropos and derivatives violations.
The arch cryptocurrency slipped from the $10,900 highs to $10,400 as of this article’s writing, a bead of about 5%.
Despite this weakness, Mike Novogratz, CEO of crypto advance coffer Galaxy Digital, is not absolutely anxious about markets. He said on Bitcoin’s affairs admitting this axiological account event:
This comes afterwards Novogratz has been advertence for months that Bitcoin is in an advantangeous position on a macro calibration because the cryptocurrency has an basal bid due to stimulus. He thinks that the Federal Reserve and the U.S. government are active clamminess into assets like BTC and gold.
Fundamentals Still Bullish For BTC
Other axiological trends are still bullish for Bitcoin admitting this medium-term axiological concern.
Raoul Pal, CEO of Real Vision, afresh said the afterward on Bitcoin’s abiding prospects:
Pal has aforetime said that all added trades may be “inferior” to BTC due to axiological trends.
