{"id":23547,"date":"2023-06-01T23:20:48","date_gmt":"2023-06-01T23:20:48","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/01\/michael-novogratz-says-bitcoin-will-soon-be-off-to-the-races\/"},"modified":"2023-06-01T23:20:48","modified_gmt":"2023-06-01T23:20:48","slug":"michael-novogratz-says-bitcoin-will-soon-be-off-to-the-races","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/01\/michael-novogratz-says-bitcoin-will-soon-be-off-to-the-races\/","title":{"rendered":"Michael Novogratz says Bitcoin will soon be \u2018off to the races\u2019"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/michael-fortsch-1wNZhutHQEk-unsplash-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/michael-fortsch-1wNZhutHQEk-unsplash-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/michael-fortsch-1wNZhutHQEk-unsplash-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/michael-fortsch-1wNZhutHQEk-unsplash-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/06\/michael-fortsch-1wNZhutHQEk-unsplash-min.jpg\" alt=\"michael novogratz shares his view on bitcoin price\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bitcoin ended May down 8.0% \u2013 its value month since November.<\/li>\n<li>Galaxy Digital CEO Michael Novogratz remains to be bullish on BTC.<\/li>\n<li>He defined why this morning on CNBC\u2019s \u201cSquawk Box\u201d.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> simply had its worst month since late final 12 months however Michael Novogratz \u2013 the Chief Executive of Galaxy Digital is holding optimistic on the cryptocurrency.<\/p>\n<h2>Novogratz shares his view on Bitcoin<\/h2>\n<p>Novogratz attributed the current weak spot in BTC to a scarcity of participation from large-scale patrons or the institutional buyers.<\/p>\n<p>But the billionaire investor talked of two current developments this morning on CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/06\/01\/crypto-is-lackadaisical-right-now-says-galaxy-digital-ceo-michael-novogratz.html\" target=\"_blank\" rel=\"noopener\">Squawk Box<\/a>\u201d that he dubbed meaningfully constructive for the Bitcoin.<\/p>\n<blockquote>\n<p>WeChat enabled bitcoin and crypto buying and selling. That\u2019s a giant deal. Hong Kong is formally permitting crypto buying and selling for retail prospects by regulated exchanges. So, we\u2019re seeing Asian adoption.<\/p>\n<\/blockquote>\n<p>Novogratz additionally famous that BTC, regardless of a sell-off in May, remains to be up 65% year-to-date which makes it one in every of the greatest performing property since the begin of 2023.<\/p>\n<h2>Rate cuts will be a constructive for Bitcoin<\/h2>\n<p>Novogratz additionally expects Bitcoin to profit as soon as the U.S. Federal Reserve begins to <a href=\"https:\/\/www.morningstar.com\/markets\/when-will-fed-start-cutting-interest-rates\" target=\"_blank\" rel=\"noopener\">cut interest rates<\/a> that he sees possible in the ultimate quarter of this 12 months.<\/p>\n<p>To that finish, the Galaxy Digital CEO mentioned he would undoubtedly decide BTC over a 5.0% assured return on Treasury Bills if he had to make investments $10,000 proper now.<\/p>\n<blockquote>\n<p>The U.S. economic system will sluggish . . . If we see an actual decelerate in the second half of the 12 months, the Fed will be chopping charges by October and crypto will be off to the races.<\/p>\n<\/blockquote>\n<p>Further forward, the whole provide of Bitcoin is about to minimize in half subsequent 12 months that\u2019s traditionally been a tailwind for value appreciation.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/michael-novogratz-shares-his-view-on-bitcoin-price\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin ended May down 8.0% \u2013 its value month since November. Galaxy Digital CEO Michael Novogratz remains to be bullish on BTC. He defined why this morning on CNBC\u2019s \u201cSquawk Box\u201d. Bitcoin simply had its worst month since late final 12 months however Michael Novogratz \u2013 the Chief Executive of Galaxy Digital is holding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23549,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[20,1273,2259,7147],"class_list":["post-23547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-michael","tag-novogratz","tag-races","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=23547"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23547\/revisions"}],"predecessor-version":[{"id":23548,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/23547\/revisions\/23548"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/23549"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=23547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=23547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=23547"}],"curies":[{"name":"wp","href":"https:\/\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