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In a recent&nbsp;<a href="https://twitter.com/novogratz/status/1779248032464191503" rel="noopener noreferrer nofollow">post</a> on the X social media network (formerly Twitter), Galaxy Digital CEO Mike Novogratz dismissed a recent market correction as a "risk fish."
The cryptocurrency mogul is convinced that Bitcoin, the largest cryptocurrency, will be able to resume its uptrend.&nbsp;
As noted by Bloomberg this was the largest Bitcoin drop within a single session since the collapse of the Silicon Valley Bank (SVB).&nbsp;
The drop occurred due to tensions in the Middle East, with Iran recently targeting Israel with a significant missile and drone attack.&nbsp;
The attack, which involved hundreds of drones and missiles, was supposed to be a retaliation after Israeli warplanes bombed Iran's consulate in Damascus, Syria, earlier this month.&nbsp;
It is unclear if the response from Iran is going to lead to further escalation in the region.&nbsp;
"I pray cool heads prevail and this is not the start of a major regional conflict. &nbsp; There are so many good things going on in the mid-east, it’s just tragic that we are here," Novogratz said.&nbsp;
Earlier, Novogratz&nbsp;<a href="https://u.today/novogratz-predicts-bitcoin-will-break-100000-in-2024" rel="noopener noreferrer nofollow">predicted</a> that the price of Bitcoin would be able to surpass $100,000 in 2024. He cited the "runaway momentum" in Bitcoin exchange-traded funds as the key reason behind his highly optimistic prediction.&nbsp;
Moreover, the cryptocurrency billionaire recently tweeted that micro-financial conditions would be favorable for the cryptocurrency market this year since he predicted that the U.S. Federal Reserve would cut interest rates.&nbsp;
However, persistent inflation concerns coupled with tensions in the Middle East could delay rate cuts. Earlier this week, the price of the top cryptocurrency experienced a sharp drop after the core consumer price index (CPI) showed higher-than-expected growth.&nbsp;

Novogratz Predicts Bitcoin (BTC) Will Resume Uptrend After Enormous Crash

U_Today

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