Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin (BTC) Bull Mike Novogratz Warns Crypto Traders, Says Altcoins at Risk of Another 70% Decline

by Daily Hodl Staff
May 22, 2022
in Altcoins, Trading

Galaxy Digital CEO and Bitcoin (BTC) bull Mike Novogratz is issuing a warning to crypto traders, saying that altcoins could still see massive devaluations. 

Novogratz tells his 463,600 Twitter followers that altcoins are at still risk of losing more than half of their value even if they are already down big from their all-time highs. 

“Alts are down over 80% from the highs. In 2017, it was over 95%.  

That is down another 70%, 

My point is picking bottoms is dangerous and if you do, scale in slowly.”

The billionaire also gives a gloomy outlook for the whole financial market, suggesting that crypto assets are likely headed to lower prices. 

“One issue with risk modeling is that all the examples of stress in the past three decades which lead to bottoms happen in an environment of Fed easing. We are still early in tightening cycle. Means confidence in models and even ‘intuition’ has to be lower.”

Although Novogratz says the macro backdrop looks bearish, he remains optimistic that the crypto markets will eventually recover. 

“Crypto is not going away. The amount of human capital moving into the space isn’t slowing down. The focus on building decentralized infrastructure that allows value and ownership to flow as freely as information on the internet, isn’t slowing down. The GDP of the metaverse is heading one way. Our community is resilient, has a shared belief in a new way of doing things, and the assurance that this is the very early innings.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/iurii/Andy Chipus/Vladimir Sazonov

Submit a Press Release

Industry Announcements

  • Swappi (PPI) Announces First Exchange Listing on BitMart
    July 1, 2022
  • Yield App Joins Forces With Unstoppable Domains To Simplify Web 3.0 Journey
    July 1, 2022
  • ARK Has Introduced a New Blockchain Consensus Technology
    June 30, 2022
  • Cantina Royale Taps Elrond Apes To Boost Its In-Game Cross Chain NFT Collections
    June 28, 2022
  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$19,116.94
$19,116.94
0.78%
Ethereum
$1,051.85
$1,051.85
0.85%
Cardano
$0.446831
$0.446831
1.23%
XRP
$0.318331
$0.318331
1.04%
Dogecoin
$0.066603
$0.066603
0.65%

Spotlight

  • Crypto Analyst Warns Sharp Bitcoin Breakdown Appears Imminent – Here’s How Low BTC May Go
    June 28, 2022
  • Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than $20,000 – Here’s Why
    June 30, 2022
  • Analyst Predicts Ethereum (ETH) Bounce, Updates Outlook on XRP and Fantom (FTM)
    June 29, 2022
  • FTX US Closing In on $240,000,000 Deal To Buy Crypto Lending Platform BlockFi
    July 1, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl