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This is When the Next Crypto Cycle May Begin as per the CEO of Galaxy Digital

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Jun 11, 2022

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Highlights

    Mike Novogratz and a former Lunatic predicts the resurgence of an uptrend within the crypto space

    The analyst also said that FED will having sometime and they have to make a larger move before the cryptos recover

Mike Novogratz, CEO of Galaxy Digital who was a hardcore proponent of LUNA at a conference predicts the next crypto bull run would begin in Q4 2022. He also believes that the FED is going to take some extreme steps with respect to cryptos and hence says that he would not trade before that. 

“ My hope is that by the fourth quarter, the economy will be showing enough that the FED says we are going to pause, and then you will see the next crypto cycle start. Then Bitcoin will break from equities and lead markets,” he said

Along with the bull-run prediction, the CEO also predicted that the US inflation rates are also going to drop to 5%. Moreover, he also believes that the crypto space may eventually decouple from the stock markets. 

Talking about LUNA, Mike says that “ fight the impulse to be so greedy. Those who got into LUNA early enough had an easy 300x return and that’s not reality in the markets. When ecosystems go real fast, there’s a reason for it. Know what you are investing in. You don’t get 18% for free,”.

Currently, the Bitcoin prices are following a tough time, as numerous reasons have restricted the BTC price below $30,000. Moreover, the BTC prices are expected to drop to $20K very soon, dragging the entire crypto space lower. Yet the possibilities of a rebound may soon make some room that could uplift the prices above local resistance. 

This may be when the bulls may enter the market to stabilize a significant upswing towards the yearly targets. And hence until the Bitcoin(BTC) prices recover above $35000, fewer chances of the markets stabilizing may be expected. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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