Billionaire Mike Novogratz Has Four Wishes To Trigger Next Crypto Market Rally – Here’s His Outlook

Galaxy Digital CEO Mike Novogratz said he was “praying for four things” in mid-May that he believed would boost crypto prices.

The crypto billionaire now says he didn’t expect to see so much progress on his wish list in such a short amount of time.

“Eight weeks ago, I was praying for four things that could help crypto prices:

1) Fed pausing
2) Ripple wins lawsuit
3) Bitcoin ETF (exchange-traded fund)
4) Binance/CZ (Changpeng Zhao) settles with Feds.“

His list included the U.S. Federal Reserve pausing its interest rate hikes, Ripple winning its court battle with the Securities and Exchange Commission (SEC), the establishment of a Bitcoin (BTC) spot exchange-traded fund (ETF) and Binance and its CEO Changpeng Zhao reaching a settlement with the US government.

Novogratz continues,

“I didn’t expect so much progress on at least three of my four wishes. Fed will hike once more and then pause. Ripple victory should push Biden/Gensler to the table with [Republicans] to get legislation done. ETF is when not if. No insight on Binance yet but still praying.”

Last week, Novogratz predicted in an interview with CNBC that Bitcoin would end the year at a higher price level.

“I think it [Bitcoin] ends the year higher. We’re consolidating between $28,000 and $32,000.

I think if you take out the top [around $31,500], we’ll have a nice leg up. That might be when the Fed actually pivots and flinches.”

Bitcoin is trading at $29,913 at time of writing. The top-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

 

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