The US economy is facing a potential credit crunch and is heading towards a recession, according to Mike Novogratz, CEO of Galaxy Digital. Novogratz warns that this is the time to invest in bitcoin and gold.

He believes that this is precisely the reason why cryptocurrencies were created, as governments tend to print too much money during tough times, which leads to economic instability.

“If there was ever a time to be in bitcoin and crypto, this is why it was created, in that governments print too much money whenever the pain gets too great, and we’re seeing that,” he told CNBC Wednesday.

Recently, regulators shut down Silicon Valley Bank and Signature Bank, while Silvergate Bank announced that it would wind down its operations and liquidate its business. Moody’s, the ratings agency, also slashed its outlook on the US banking system. Novogratz believes that the commodity market is indicating that the US is heading towards a recession, and this will lead to a credit crunch.

Novogratz also believes that the Federal Reserve will cut interest rates sooner than anticipated, as the banking crisis has changed the public’s “psychology.” He notes that there is contagion and that people are learning from the SVB crisis. He predicts that Americans may start to rely on just four or five depository institutions.

While stocks may decrease in the short-term, Novogratz anticipates that they will bounce back with the Fed’s shifting policy. He believes that central bankers will pause at the March meeting, as it has become apparent that something broke in the economy this week. Novogratz warns that a dovish hike for credibility’s sake would be a significant policy error.

The value of bitcoin surged to a nine-month high on Tuesday, hovering around $24,337 on Wednesday, and has rallied approximately 46% year-to-date. Gold rallied 1.37% on Wednesday to about $1,937.50, and Brent crude oil, the international oil benchmark, fell by 5.6% to trade around $73 a barrel.

Novogratz’s warning that the US is heading towards a credit crunch and potential recession should not be taken lightly. This highlights the importance of diversifying investments, and investing in assets like gold and bitcoin, which have shown resilience during economic downturns. The upcoming months will be critical, and investors should keep a close eye on developments in the US economy.

#bitcoin #btc #gold #MikeNovogratz #investment

This article was republished from azcoinnews.com

#BTC #investment #trading_tips One day in the office, a work pal said, “Risylva , have you got Coinbase? You wanna check it out — crypto is pumping on there!”.That’s all the encouragement I needed. As soon as the app downloaded, I dived head first like a puppy into some autumn leaves.I bought Litecoin, Bitcoin Cash, Ethereum and Bitcoin and watched my crypto holdings free fall like a broken elevator soon after.It was a punch in the gut and one I deserved.In those early days, how tech bros used to over-intellectualise blockchain technology to sound smart scared me sh*tless, so I knew having a slice of the action would require some guesswork.It’s like Charlotte George says:Source _ “Intellectualisation of the space, which applies in macro and crypto investing, is just people wanting to sound smart, and sometimes the way of sounding the smartest is to sound very dumb.”Your Lack of Expertise Is Your Crypto-Investing Secret Weapon and Unfair Competitive Advantage.If you can’t explain it, you have the wrong thesisIt was a punch in the gut and one I deserved.It’s like Charlotte George says:Source — “Intellectualisation of the space, which applies in macro and crypto investing, is just people wanting to sound smart, and sometimes the way of sounding the smartest is to sound very dumb.”The only ideas I had in my head were, “Are we becoming more digitalised or less? Are people going to care about this more? How the heck would you put the genie back in the bottle and stop people from holding this stuff even if you wanted to?”My novice thinking was so simple, but what I never realised at the time was it was my ultimate superpower.I narrowed my focus on investments in Bitcoin and Ethereum, betting on their popularity, which paid off.Most traditional financial advisors would have heart failure listening to this kangaroo thesis, but it resulted in the most optimal and accurate bet.I REALLY WANT TO APPRECIATE MRS CHARLOTTE GEORGE FOR GUIDING ME THROUGH MY TRADING AND INVESTMENT I THE CRYPTO PLATFORM GOD BLESS YOU, THROUGH YOU I HAVE MADE OVER $789KHere’s a chart of cryptocurrency adoption by user. It went exactly where I anticipated it would from when I began and is predicted to reach 1 billion users by 2030.

When considering an initial investment in cryptocurrencies, it's important to look for options that offer a balance between potential growth and established track records. Here are some factors to consider:
Stability and Reputation: Look for cryptocurrencies that have been around for a while and have a stable growth curve. Coins like Litecoin (LTC) and Cardano (ADA) have been in the market for years and have maintained a relatively stable presence.
Technology and Use Case: Invest in cryptocurrencies with a clear use case and innovative technology. For instance, Solana (SOL) offers high-speed transactions, while Chainlink (LINK) provides real-world data to blockchain networks.
Community and Development: A strong community and active development team can be indicators of a cryptocurrency's longevity. Polkadot (DOT) and Avalanche (AVAX) are examples of projects with robust communities and frequent updates.
Regulatory Compliance: Cryptocurrencies that work within regulatory frameworks may offer more security for investors. Stellar (XLM), for example, focuses on financial inclusion and cross-border payments in a compliant manner.
Diversification: Don't put all your eggs in one basket. Consider creating a diversified portfolio that includes both large-cap and small-cap cryptocurrencies.
Remember, cryptocurrency investments are speculative and carry risks. Start with a small amount that you're comfortable with, and never invest more than you can afford to lose. Always do your own research and consider seeking advice from financial experts. #investment $SOL #CryptoInvestmentTips

Explore the key factors influencing Bitcoin price in 2024. From institutional adoption to regulatory dynamics, discover expert insights into the future value journey of Bitcoin.Institutional Adoption Trends:Financial institutions are increasingly embracing Bitcoin in their investment portfolios. Widespread institutional adoption serves as a positive catalyst for Bitcoin prices, indicating high confidence from conventional market players in the long-term potential of crypto assets.Technological Landscape Developments:Technological innovation, particularly in the blockchain field, plays a crucial role in determining Bitcoin's value. Improvements in scalability, security, and transaction efficiency significantly impact market confidence, potentially creating strong bullish pressure on Bitcoin prices.Regulatory Dynamics:The evolving regulatory landscape can have a significant impact on Bitcoin prices. With the implementation of transparent and supportive regulations, Bitcoin could become more widely accepted, creating a more structured environment for growth and price stability.Traces of Mass Adoption:Mass adoption of Bitcoin by the general public and businesses is a vital catalyst. Increased everyday acceptance and usage build a stronger foundation for the intrinsic value of Bitcoin, providing positive momentum to price dynamics.Global Uncertainty Overview:Geopolitical and global economic factors play a central role in influencing confidence in traditional currencies. Global economic uncertainty may drive the search for asset protection, increasing interest in Bitcoin as a form of value independent of the monetary policies of specific countries.Conclusion:In a landscape full of challenges and uncertainties, a careful understanding of these factors allows us to form a more comprehensive view of the Bitcoin price journey that may unfold in 2024. Dive deeper to grasp the future of Bitcoin's value in the crypto world.Follow to get notifications and keep reading my latest articles.Click give a tip if you like my article, so it becomes motivation and enthusiasm for me to keep writing articles that are useful for everyone.#bitcoinhalving #BitcoinETF #CryptoJourney #investment #news $BTC

Based on data sourced from Bitinfocharts, the address labelled as “bc1q….59v2” embarked on its #bitcoin accumulation venture on May 8, 2022, with an initial acquisition of 0.25 BTC. This initial #investment marked the genesis of a progressively accelerating accumulation trend that persisted until its most recent transaction on June 28.

The entity is now the third largest whale and sits just behind crypto exchanges Bitfinex, which holds 178,010 BTC and Binance, which has 248,5097 BTC.

Nonetheless, as this development comes to light, the cryptocurrency community has begun to scrutinize this whale’s identity, with speculations that it might represent an institutional acquisition. Notably amid these discussions is the persistent mention of BlackRock, with various individuals now convinced that the hedge fund is actively procuring the cryptocurrency asset.

BlackRock, the world’s largest asset manager with about $8.59 trillion of assets under management, recently filed for a spot Bitcoin ETF, joining the likes of Ark Invest and Wisdom Tree, who have expressed a strong desire to invest in the world’s largest cryptocurrency. In an interview last month, Larry Fink, CEO of BlackRock, disclosed the surging demand for #cryptocurrencies , particularly among its gold investors, noting that that’s why they believed there’s a great opportunity in the sector.

However, on Tuesday, famous #crypto reporter Wu Blockchain linked the mysterious address to Gemini, stating that it was just a routine reorganization of its Bitcoin wallets.

“Gemini has transferred bitcoins to the new address bc1q….59v2 in the past 3 months. It currently holds 118,000 bitcoins, or about 3.08 billion U.S. dollars.” Wrote Wu Blockchain. And although Gemini was yet to confirm the transfers, following a thorough scrutiny of the Bitcoin movements, ZyCrypto confirmed the transfers between the two wallets.

Crypto exchanges routinely move huge sums of crypto assets to new wallet addresses to fortify their defence against threats such as potential cyber threats and ensure the safety of users’ digital assets.

Binance is perhaps the most active when it comes to this activity. In June, the exchange moved 15,000 BTC valued at around $396.6 million to a new cold wallet. The exchange also transferred a much more significant sum of 117,000 #BTC worth over $3 billion from another cold wallet address to a new

$BTC

The recent fall of Silicon Valley Bank #svb has raised concerns about the future of US interest rates. Many are wondering if this decline will lead to a drop in rates to 3.75%. 

However, it is important to note that the relationship between Silicon Valley Bank's performance and interest rates is not straightforward. While a decline in the bank's stock price may indicate a weaker economy, it does not necessarily mean that interest rates will drop. 

Furthermore, the #FederalReserve has already indicated that it plans to keep interest rates steady for the time being. This decision is based on a variety of factors, including inflation, employment rates, and global economic conditions. 

In short, while the fall of Silicon Valley Bank is certainly noteworthy, it is not necessarily an indicator of impending interest rate changes. It is important to stay informed about economic trends and to consult with financial experts before making any major #investment decisions.

Rich Dad Poor Dad author Robert Kiyosaki has revealed his investment strategy, emphasizing its divergence from the investment approach adopted by Berkshire Hathaway CEO Warren Buffett. “I am an average investor ‘accumulating’ the asset I want for the long term. I have been accumulating gold, silver, bitcoin, and real estate for years,” the famous author detailed.Robert Kiyosaki Differentiates His Investment Strategy From Warren Buffett’sThe author of Rich Dad Poor Dad, Robert Kiyosaki, has outlined his investment strategy, underscoring its divergence from the approach adopted by investing legend Warren Buffett. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.Kiyosaki wrote on social media platform X Sunday:Rather than pretend to be Warren Buffett picking bottoms I am an average investor ‘accumulating’ the asset I want for the long term. I have been accumulating gold, silver, bitcoin, and real estate for years.“My first gold coin cost $50. Today that same coin is worth $2,000. You can become rich by being an average investor, using dollar cost averaging to get rich. Take care,” he added. “Gold dropped $10 today. Silver 14 cents. This is where ‘dollar cost averaging’ pays off.”Buffett is a proponent of value investing. He previously explained that the secret of his investing success is to make “investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers.” The Berkshire Hathaway CEO also previously said: “When buying companies or common stocks, we look for first-class businesses accompanied by first-class management.”Kiyosaki has been recommending investors buy gold silver, and bitcoin for quite some time. Last week, he said the price of BTC is headed for $135,000 while gold will soon break through $2,100 and then take off. In addition, he said silver will increase from $23 to $68 an ounce.The Rich Dad Poor Dad author has made several predictions regarding the prices of bitcoin, gold, and silver. Back in August, he stated that should a global economic crisis occur, the price of bitcoin would surge to $1 million, with gold reaching $75,000, and silver climbing to $60,000. In February, he said that the price of BTC is expected to reach $500,000 by 2025, while gold is anticipated to climb to $5,000 and silver is projected to reach $500 within the same timeframe.Unlike Kiyosaki, Buffett is not a fan of bitcoin. The Oracle of Omaha is famous for saying the cryptocurrency is “probably rat poison squared.” He said in April that BTC is a gambling token that doesn’t have any intrinsic value. In May last year, he said he wouldn’t pay $25 for all bitcoin in the world.#BTC #bitcoin #investment #crypto $BTC $ETH $BNB