THELOGICALINDIAN - Galaxy Digital CEO Michael Novogratz says he is not afraid about bitcoins bulk falling alike back it avalanche beneath 30K The ecosystem is so abundant added complete The bulk of players that are affective in are so abundant added complete Every distinct coffer is alive on their own crypto activity he said
Novogratz Still Bullish About Bitcoin
Mike Novogratz commented on the bitcoin bazaar Tuesday in an account with CNBC as the amount of the cryptocurrency fell beneath $30K. Commenting on the falling BTC price, Novogratz said:
The Galaxy Digital CEO opined: “We had China absolutely be abundant added bull in their abstraction to ban cryptocurrency. That’s created a retail deleveraging. A lot of crypto happens in Asia, a lot of it is Chinese focused. So we’re seeing big liquidations, so it’s adamantine to alarm a bottom.”
Novogratz believes that the Chinese government’s crackdown is a abiding absolute for bitcoin. “Maybe not in the abbreviate run, but it’s a acceptable thing. That’s what’s created this boundless animation that we’ve seen,” he detailed.
Recently, Facebook’s arch of payments and the Diem crypto project, David Marcus, additionally said that China arise bottomward on bitcoin mining is “a abundant development” for bitcoin. Many bodies agreed with him on Twitter.
Overall, Novogratz does not apprehend bitcoin to ache a massive crash, elaborating:
“I anticipate a lot of audience that didn’t buy it the aboriginal time will see this [the low amount level] as an befalling to buy it and get involved,” he concluded.
What do you anticipate about Mike Novogratz’s comments about bitcoin? Let us apperceive in the comments area below.
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