Reserve

Galaxy

Bitcoin

<p>The post <a href="https://coinpedia.org/news/here-is-why-galaxy-digital-ceo-bullish-on-bitcoin-amid-fed-rate-cut-intention/">Here Is Why Galaxy Digital CEO Bullish On Bitcoin Amid Fed Rate Cut Intention</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a>, the world’s leading cryptocurrency, has garnered significant attention for its wild price swings, offering both lucrative opportunities and substantial risks. Recently, Galaxy Digital CEO Mike Novogratz sparked a discussion with his recent tweet. He’s feeling hopeful that the U.S. Federal Reserve may cut interest rates.</p> 
<h2 class="wp-block-heading" id="h-fed-to-cut-rate">Fed To Cut Rate…</h2> 
<p>In his tweet, Novogratz seems skeptical about the Federal Reserve’s plan to cut interest rates, stating, “Call me crazy but I don’t see one good reason for the Fed to cut rates. Yet think, they will.”&nbsp;</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Call me crazy but I don’t see one good reason for the fed to cut rates. Yet think they will. It’s a great set up for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>, gold, silver, copper. It’s not a great set up for the USA though. We need a politician who will cut spending dramatically! <br><br>Sound of silence…</p>— Mike Novogratz (@novogratz) <a href="https://twitter.com/novogratz/status/1777483185430929572?ref_src=twsrc%5Etfw">April 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Even though Novogratz believes that FED will cut rates, Bitcoin will keep going strong, even if the U.S. Federal Reserve cuts interest rates. But he’s worried about the U.S. government spending more than it’s bringing in.</p> 
<p>Despite this skepticism, Novogratz sees a silver lining, suggesting that lower interest rates could benefit assets like Bitcoin, gold, silver, and copper. This optimism stems from his bullish outlook on Bitcoin’s long-term prospects, including his prediction of it surpassing $100,000 by 2024.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="fr" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f399.png" alt="🎙" class="wp-smiley" style="height: 1em; max-height: 1em;"> – Michael Novogratz affirme qu'il pense « vraiment » que Bitcoin atteindra 100 000 dollars en 2024. <a href="https://t.co/0bSL4BBAOW">pic.twitter.com/0bSL4BBAOW</a></p>— Journal du Coin (@LeJournalDuCoin) <a href="https://twitter.com/LeJournalDuCoin/status/1765511859229110550?ref_src=twsrc%5Etfw">March 6, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Novogratz highlights Bitcoin’s appeal as a safe haven asset, drawing increasing interest from investors seeking protection against economic uncertainty.&nbsp;</p> 
<p>Read More : <a href="https://coinpedia.org/news/bitcoin-halving-2024-analysts-warn-of-potential-sell-the-news-scenario/">Bitcoin Halving 2024: Analysts Warn of Potential “Sell-the-News” Scenario</a></p> 
<h2 class="wp-block-heading" id="h-profit-taking-to-add-selling-pressure">Profit-Taking To Add Selling Pressure</h2> 
<p>On the flip side, former BitMEX CEO Arthur <a href="https://cryptohayes.medium.com/heatwave-68dc6ccb3d21">Hayes offers a stark warning</a>, predicting a potential post-halving plunge in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a>. Hayes points to profit-taking by investors who’ve held onto Bitcoin for a while might start selling, and that could push prices down.</p> 
<p>Meanwhile, the <a href="https://coinpedia.org/news/bitcoin-halving-2024-analysts-warn-of-potential-sell-the-news-scenario/">upcoming Bitcoin halving event</a>, which slashes miner rewards by 50%, raises concerns about its impact on miners. As rewards decrease, miners could face tougher competition and lower profit margins. This might prompt them to sell more of their holdings, potentially adding selling pressure to the market.</p> 
<h3 class="wp-block-heading" id="h-bitcoin-price-action">Bitcoin Price Action</h3> 
<p>Despite the uncertainty, Bitcoin’s price remains high, hovering <a href="https://markets.coinpedia.org/bitcoin/?_gl=1*141s7nt*_ga*NTQzNDc3MzQ4LjE2OTcxODMzODc.*_ga_RE1GG3FGQW*MTcxMjU1Njc5Mi4xNTQuMS4xNzEyNTU2Nzk3LjU1LjAuMA..">above $70,120</a>. However, it has seen a slight decrease in its price over the last 24 hours.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/ripples-cto-weighs-in-on-xrp-burning-debate-amid-sec-lawsuit/">Ripple CTO Reveals Effective XRP Burn Method to Boost Market Health</a></p>

Here Is Why Galaxy Digital CEO Bullish On Bitcoin Amid Fed Rate Cut Intention

Table of Contents

CoinPedia News

Other articles published on Apr 9, 2024

XRP Adds $2 Billion to Market Cap as XRP Price Suddenly Pumps

Santiment Advises $BTC Traders to Take Profit

Paradigm leads $225M funding round for new ‘Solana killer’ L1

Metaplanet & Sora Ventures To Create “Asia’s First MicroStrategy”

Worldcoin tightens privacy checks, allows users to unverify World ID

Metaplanet’s All-In Bitcoin Strategy Brings Shares 90% Up

Join our free newsletter for daily crypto updates!