Mike Novogratz, CEO of Galaxy Digital predicts that the new “market events” Bitcoin is a new currency.BTCCrypto assets (such as bitcoins) are also available. next leg up.
Galaxy Digital Q1 Earnings Call: The Billionaire says Solana: Bitcoin is a new currency.SOLEthereumETHAfter a long period of trading in the red, it could be several months before we see a rise in digital assets.
He said Bitcoin would trade in the range between $55,000 and $75,000. This is until November’s US presidential elections provide clarity regarding crypto regulations. Or, the Federal Reserve could cut interest rates.
“Listen, we had a lot of tailwinds in Q4 and Q1 – the adoption of the [Bitcoin exchange-traded funds] The biggest. This was a huge wake-up that it is now an institution asset. Also, we had the half-off that is now in the past. It was thought that rates would be reduced significantly by the Fed this year. That view is now outdated. There’s been a change in the market, and it has happened here at Galaxy. So I think that we’re in a period of consolidation for crypto.
Solana says that Bitcoin, Ethereum and other currencies will all consolidate. This means what? This means [Bitcoin trades] Between $55,000 to $75,000 is the range of likely earnings until then. next Set of circumstances next set of market events brings us higher…
This is probably the best we can do for this quarter. next “It will be a quarter before either (a), the Fed cuts rates as the economy slows down, or (b), we make it through the elections. I believe the election, in one form or another, will clarify the regulatory environment for crypto.”
Bitcoin currently trades for $65,884 as of the time this article was written, an increase of nearly 7% over the past 24 hours. Ethereum trades for $3,019, an increase of 4.4% for the day, and Solana for $155 – up by 8.6% for the past 24 hours.
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