HomeBitcoinBillionaire Mike Novogratz Forecasts How Long the Bitcoin and Crypto Bear Market...

Billionaire Mike Novogratz Forecasts How Long the Bitcoin and Crypto Bear Market Will Last


Galaxy Digital CEO Mike Novogratz is updating his perspective on the future of the current bear market and crypto markets in general.

Novogratz says in a Yahoo Finance interview that Bitcoin (BTC) and other crypto assets are likely to recover once the Federal Reserve stops its monetary tightening measures.

According to the CEO of Galaxy Digital, the crypto market sell-off was caused by the Federal Reserve raising interest rates.

“Since the Federal Reserve has decided to try to squash inflation by aggressively raising rates, the most aggressive rate hike in our lifetime, Bitcoin was sold with other assets. Actually, it is done better than most.

I think if you finally get the pause, you will start to see Bitcoin recover. Bitcoin and all cryptocurrencies.

Are we gonna get the break? In a moment, yes.”

On when the cryptocurrency crisis might end, Novogratz says that the prevailing bear market could last up to six more months.

“You know, the bear case is that we have two to six months of this pain left. The bull case is that the market starts to break down. And we’re seeing a lot of breakage. Not necessarily in crypto but in the rest of the world.”

According to the CEO of Galaxy Digital, sellers in the cryptocurrency market are practically exhausted.

“Crypto is interesting because three months ago, after the big selloff and deleveraging, most of the people who needed to sell sold.

And as you have seen, the price is much more moderate. Things take off when there’s a good story and sell again when the story wears off.

And therefore much less activity in crypto, much less for sellers. But also far fewer new buyers.”


Don’t miss a thing – sign up for crypto email alerts straight to your inbox

Check price action

Follow us TwitterFacebook and Telegram

Surf The Daily Hodl Mix

See the latest news headlines


Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.

Generated image: DALLE-2


Heath Tarbert joins Circle as General Counsel and Director of Corporate Affairs

In an exciting development for the global fintech industry, Circle Internet Financial has appointed Heath Tarbert as its new Chief Legal Officer and Head of...

Here is the bullish case for Ethereum Rival Solana (SOL), according to InvestAnswers

A widely followed analyst is giving a bullish outlook on the blockchain development of Ethereum (ETH) competitor Solana (SOL). In a new interview with Paul Barron,...

Rich Dad Poor Dad Author Says Biggest Real Estate Crash in History Is Coming, Calls BTC and Precious Metals the Answer

Rich Dad Poor Dad author Robert Kiyosaki once again predicts that the real estate sector will collapse and cause a severe global financial crisis. Former best-selling...

Binance Pay and Credencial Payments join forces to enable real-time crypto payments in Latin America

In a strategic alliance that aims to revolutionize the digital payments landscape, Binance Pay, the digital payments platform of the world's largest cryptocurrency exchange, Binance,...

Most Popular