Image credit: Coindesk
As the cryptocurrency market continues to be in a bear phase, there is more and more talk of an alleged start of the bull phase. The next crypto cycle will start in Q4 2022, predicts Mike Novogratz.
The chief operating officer of crypto investment firm Galaxy Digital, Mike Novogratz, wearing a luna (LUNA) tattoo, has a quite optimistic view of the crypto market and its immediate future. Speaking at the CoinDesk Consensus 2022 conference in Austin, Texas, he said that Bitcoin (BTC) is not going to “trade well before the Fed flinches and takes its foot off the brake.” However, he expects the crypto market to start its recovery in Q4 2022 after the economy slows enough for the Federal Reserve to want to pause. According to Novogratz, the most popular digital asset in the world would also find a bottom before the equities markets in the United States.
“My hope is that by the fourth quarter, the economy will be slowing enough that the Fed says we are going to pause, and then you will see the next crypto cycle start,” he said. “Then bitcoin will break from equities and lead markets.” ”Rates are going to 5% in the U.S. I hope crypto can decouple,” he added.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
