.novogratz says that the rally is driven by the crypto community, not big institutions
Novogratz highlighted that the rally has been driven primarily by the crypto community rather than institutional investors, explaining that"the adoption cycle always accelerates when the price is going up." He also noted that hedge funds have been taking part in the market surge, while large U.S.-based institutions have yet to dive in significantly.
Novogratz dismissed concerns about market manipulation, arguing that it would be extremely difficult to manipulate assets such as Bitcoin and Ethereum due to their massive market capitalization."It's very hard to manipulate a trillion-dollar market," he said, acknowledging that smaller coins could be more susceptible to such tactics.
He attributed Bitcoin's previous decline from $60,000 to the aggressive interest rate policy adopted by Federal Reserve ChairmanLooking forward, Novogratz suggested that the market is anticipating an end to Powell's aggressive monetary policy, which could bode well for assets like gold, Bitcoin and Ethereum."The market is pretty certain that Chairman Powell is pretty close to finished," he said, expressing optimism for crypto prices.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russian Law Enforcement Prepares to Seize Crypto Assets, Seeks Permission to Set Up Wallets – Bitcoin NewsRussian investigators are pressing the parliament and government in Moscow for permission to open their own cryptocurrency wallets.
Read more »
Crypto-Related Stocks Surge as Bitcoin Price Hits Highest Point Since June 2022$MARA, $RIOT, and $HUT are leading the way as bitcoin tops $29,200, its highest price in 10 months. $COIN and $MSTR are also gaining. SteveAlpher reports
Read more »
Bitcoin tops $30,000 for first time in 10 months, as some tout crypto as 'safe haven'Bitcoin rallied Monday to the highest level in 10 months, as some proponents tout the asset as a potential 'safe haven,' like gold, as recession fears return...
Read more »
Bitcoin, Not Ether, Builds Crypto Market Dominance Ahead of Ethereum's Shanghai UpgradeRegulatory concerns and worries of an immediate ether supply boost after the Shanghai upgrade are keeping investors from aggressively bidding up $ETH. reports godbole17
Read more »
Crypto Markets Gain $60B as Bitcoin Explodes Above $30K (Market Watch)Solana has skyrocketed the most from the larger-cap alts, adding 10% of value daily.
Read more »
XRP and Bitcoin (BTC) Steal Spotlight: Traditional Investors Bet on Crypto GiantsXRP and Bitcoin $BTC take center stage as traditional investors come back Into crypto xrp xrparmy xrpcommunity ripple ripplesec bitcoin btc $xrp
Read more »