Novogratz: “The potentially biggest catalyst for Bitcoin”
- While Bitcoin is at least holding above $109,000 after the recent sell-off, Ethereum ($4,000) and Solana ($200) are able to recapture important price levels.
- Meanwhile, the XPL token of the new Layer 1 stablecoin Plasma, which went live on Thursday, skyrocketed. Over the past 24 hours, it is up over 27 percent.
- Meanwhile, in the Perps DEX sector, all sorts of newcomers like Lighter and EdgeX are cannibalizing each other in the battle for the favor of airdrop farmers. They were attracted by the spectacular performance of Hyperliquid and Aster. Older Perps platforms like GMX and dYdX, however, are unable to benefit from the hype.
- With the support of Binance founder Changpeng “CZ” Zhao and currently massive trading volume, Aster is considered the most promising Hyperliquid competitor. If you'd like to invest in Aster, you can do so at Bitpanda, among others.
- Meanwhile, the crypto market continues to be characterized by nervous optimism. While some observers argue that the cycle top has already been reached, others argue that the four-year cycle is over. According to this, Bitcoin and other cryptocurrencies could continue to benefit from constant demand, albeit without the spectacular price performance of the past.
- Mike Novogratz, CEO of Galaxy Digital, sees the appointment of the new Federal Reserve chief as “potentially the biggest bull catalyst for Bitcoin and crypto.”
- In an interview published on YouTube on Friday, he speaks of a “massive dove cutting interest rates when it shouldn’t,” adding that this could lead to a “blow-off-top” moment for Bitcoin and Co.
- He also has a price prediction for this scenario: “Can Bitcoin reach $200,000? Of course it could… Because it'll be a whole new conversation if that happens.”
Recommended video: Top 3 underrated altcoins in 2025 – get in before the hype?
source
- Interview with Mike Novogratz
