Bitcoin Price Prediction News: Galaxy Digital CEO Mike Novogratz stated that there can be a possibility for development for Bitcoin (BTC) in the long term. He stated the FTX collapse is just not essentially a really dangerous factor for the crypto trade in long run. Novogratz made the feedback within the backdrop of the shock meltdown of the Sam Bankman-Fried crypto empire. Meanwhile, Bitcoin (BTC) value together with different cryptocurrencies rallied on Wednesday following Fed chair Jerome Powell’s feedback on the state of the economic system.
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‘Sam Bankman-Fried Was Delusional’
The Galaxy CEO stated Sam Bankman-Fried was delusional about what occurred with FTX and the person funds. Speaking to CNBC on the state of crypto market on Thursday, he stated extra folks aside from SBF needs to be prosecuted and jailed. He additionally stated Bitcoin value would have been increased if not for the FTX collapse. Galaxy Digital is among the many firms which have publicity to FTX. However, the corporate stated the publicity it needed to FTX is minimal.
“He needs to be prosecuted. He will spend time in jail. And it wasn’t just Sam. You don’t pull this off with one person.”
While saying the Galaxy quarterly outcomes lately, Novogratz stated the crypto trade continues to face macroeconomic headwinds and structural evolution. The crypto market noticed a protracted bear run because the starting of 2022. Compared to the highs of final yr, crypto asset costs are actually buying and selling at round 70% decrease vary.
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As of writing, Bitcoin (BTC) value stands at $16,970, up 0.71% within the final 24 hours, based on value monitoring platform CoinMarketCap. Fed chair Jerome Powell hinted on Thursday about potential smaller rate of interest hikes in as quickly as December. However, he stated the inflation nonetheless remained excessive.
Anvesh experiences main developments round crypto adoption and buying and selling alternatives. Having been related to the trade since 2016, he’s now a powerful advocate of decentralized applied sciences. Anvesh is at the moment based mostly in India. Follow Anvesh on Twitter at @AnveshReddyBTC and attain him out at [email protected]
The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
