'On the charts, $38,000, $40,000 feel like where we should bottom,' said Novogratz. bitcoin cryptocurrency
Mike Novogratz Says Bitcoin Should Bottom Around $40K, Sees 'Tremendous' Demand From Institutional Investors
“Part of the bitcoin story was the debasement of fiat currency and as the Fed looks to get more hawkish, some of that comes off,” he explained. We see a tremendous amount of institutional demand on the sidelines. I’m not nervous in the medium-term.Novogratz was also asked if he thought there was a floor at $38,000 for bitcoin after he said, “you will find a lot of support for bitcoin” around $38K to $42K. The Galaxy Digital executive replied:
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