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Cryptocurrency to experience a bullish year, predicts Mike Novogratz

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Renowned crypto advocate and investor Mike Novogratz has predicted that the price of Bitcoin and other cryptocurrencies will continue to rise this year.

Novogratz was a guest on Fox Business recently. He cited the crisis in regional banks and the debt orgy in the US as the driving forces behind the increase.

Novogratz indicates his conviction that the Federal Reserve will have to cut interest rates later this year, which could help boost the cryptocurrency markets by the end of summer. Compare Bitcoin and digital gold, which means that the value of Bitcoin will increase along with the price of gold.

“I think the Fed will have to cut interest rates.”

Crypto investor Mike Novogratz

The investor said that the current crisis in the banking industry is the reason behind Bitcoin’s successful performance. He also examined the potential impact of interest rates, claiming they may have been raised too much, and mentioning the potential impact of tax rates.

Bitcoin price movements

Bitcoin continues to face resistance at the $28,000 level, losing 2% valuation in 24 hours as if time to squeeze back into the $27,000 level.

In conclusion, Novogratz notes that despite facing many hurdles, such as Wells’ notice to Coinbase, bitcoin has shown resilience and maintained strong growth throughout this year, especially now more than ever as the asset looks to consolidate above the mark. $30,000.

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