Mike Novograts: Bitcoin will resume growth against the background of softening the Fed’s policy

Mike Novograts: Bitcoin will resume growth against the background of softening the Fed’s policy

The first cryptocurrency will rise in price if the Fed refuses an aggressive increase in betting to combat inflation. This was stated by the head of Cryptobank Galaxy Digital Mike Novograts.

"When Powell Started Beating Inflation Over the Head with a Sledgehammer, of Course #Bitcoin Came Back Download Lots of Assets," Says @novogratz. "IF he Gives Up this Fight, You’re Going to See Bitcoin and Other Assets Take Right Back Off.»Pic.Twitter Существует ли цена, .COM/PXTVOWZL3T

– Squawk Box (@squawkcnbc) October 4, 2022

“When [the head of the Federal Reserve as Jerome] Powell began to beat inflation with a sledgehammer on the head, of course, Bitcoin rolled back, like many assets. If he refuses this struggle […] the quotes of the first cryptocurrency will immediately turn around ", – the expert explained.

The head of the Galaxy Digital said that the Federal Council campaign to increase the rates deprived his status of “a powerful means of protection against consumer prices”. The Fed’s policy had a greater impact through correlation with traditional financial assets than inflation itself, he added.

The head of Skybridge Capital Anthony Scaramucci doubted that Bitcoin should be perceived as a means of protection against Binance paid $ inflation. According to the expert, to gain this status, the first cryptocurrency must attract a billion users.

Recall, in August, ex-managing the Cramer Head Fund & Co. And the host of the Mad Money show on the CNBC channel Jim Kramer said that the fragmentation of the Federal Council will lead to “leaching” of speculative assets like cryptocurrencies.

In September, the former associate of George Soros on the Quantum fund, billionaire Stanley Drandmiller predicted the revival of digital assets against the background of collapse based on the fiat of the economy.

Earlier, Grayscale analysts allowed the completion of cryptosima by the end of March 2023.

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