Galaxy Digital founder Mike Novogratz has stated that if the US Federal Reserve cuts interest rates, the price of Bitcoin could rise to $40,000.

Adam Back Expects Bitcoin to Reach $100,000 by Year-End Despite Recent Dip

Recovery of Digital Asset Market Depends on Actions of US Federal Reserve, Says Galaxy Digital CEO

Galaxy Digital CEO Mike Novogratz believes that the emergence of Bitcoin is caused by the financial crisis, and due to new financial turmoil, 2020 will be the year of Bitcoin.

Well-known cryptocurrency enthusiast Michael Novogratz was surprised to find that over the past week, stock market and Bitcoin rates have fallen simultaneously.

According to well-known cryptocurrency enthusiast and founder of Galaxy Digital Michael Novogratz, in 2020 the first cryptocurrency will reach at least $ 12,000.

Delphi Digital analysts said that in 2019, Bitcoin is the most profitable asset - in May of this year, the rate of the first cryptocurrency increased by 60%.

"The acceleration in BTC's performance comes at a time when conventional risk assets, notably global equity markets, continue to see selling pressure […]," analysts emphasized.

Billionaire investor and founder of the cryptocurrency bank of Galaxy Digital Mike Novogratz is confident that the price of Bitcoin is consolidating in the range from $ 7,000 to $ 10,000.

The famous cryptocurrency enthusiast and head of Galaxy Digital, Michael Novogratz, said that Bitcoin is only a means of storing wealth, and the world will change Web 3.0.

Michael Novogratz, a well-known cryptocurrency enthusiast and founder of the Galaxy Digital investment bank, believes that large institutional investors will start investing in the cryptocurrency industry next year.