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Mike Novogratz, a well-known advocate and investor in cryptocurrency, forecasted that the price of bitcoin and other digital currencies would continue to rise this year.
Recently, Novogratz appeared on Fox Business, where he highlighted the turmoil in regional banks and the excessive debt in the United States as key factors driving this increase.
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.Mike @novogratz to @ClamanCountdown: “The (regional) banking crisis and the debt orgy in this country will be the catalyst to push Q1’s best selling asset– #bitcoin— higher this year.” PS he also says the #Fed will be forced to cut rates this year.
— Liz Claman (@LizClaman) April 5, 2023
Novogratz expresses his belief that the Federal Reserve will be obligated to lower interest rates later this year, which could provide support to cryptocurrency markets by the end of summer. He likened bitcoin to digital gold, suggesting that its value would rise alongside the price of gold.
“I believe the Federal Reserve will be forced to cut interest rates.”
Crypto investor Mike Novogratz
The investor stated that the ongoing crisis in the banking sector is the reason for bitcoin’s strong performance. He also analyzed the potential effects of interest rates, arguing that they may have risen excessively, and noted the possible implications of tax rates.
