Crypto billionaire Novogratz: “Bitcoin will rise very quickly”
Galaxy Digital CEO Mike Novogratz stated that the Bitcoin price will continue to rise after the US presidential elections.
Speaking to the Unchained YouTube channel, Novogratz predicted that Bitcoin (BTC) will start a new bull cycle regardless of who wins the US presidential elections. The famous CEO emphasized that the bull cycle in question will be delayed if Kamala Harris wins.
Novogratz noted the following:
“I think if Trump wins, we will exceed $73,000 and rise much faster. If Harris wins, we will probably fall below $50,000 and then rise rapidly.”
Although Galaxy Digital CEO Mike Novogratz remains positive about the crypto market, he is concerned about the US’s financial situation. Novogratz believes that the only way out for the US to pay off its record-high debt is to devalue the dollar. The CEO of the mining giant thinks that the activity in question could work, but it could trigger inflation.
Novogratz made the following statements:
“To clarify my macro view, I think the US has a very low chance of recovery. The best we can hope for is to have talented people in the necessary positions who can keep inflation between 4% and 5%, prevent it from accelerating, and prevent debt from swelling.”
According to Novogratz, the steps the US will take in economic terms will attract investors to the crypto market. Expectations of protecting assets against inflation and evaluating assets could trigger the rise of the crypto market.
The US national debt, which Novogratz emphasized, has exceeded $ 35 trillion. Economists think that the US will have to resort to monetary easing in the near future.
According to CoinGecko data, $BTC recorded a trading volume of $ 36 million in the last 24 hours.
