Galaxy Digital founder: If the Federal Reserve slows down interest rate hikes, BTC price may reach $40,000

2023-04-13 13:59:56

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ChainCatcher news, during an interview with Bloomberg Television, Galaxy Digital Holdings Ltd. founder Mike Novogratz stated that he expects gold, the euro, and cryptocurrencies Bitcoin and Ethereum to outperform competitive investments, as the Federal Reserve begins to ease interest rate hikes following recent bank failures that led to potential credit tightening.

Additionally, Novogratz mentioned that the clearest trade is to remain long on gold, the euro, Bitcoin, and Ethereum—these assets should perform well in a scenario where the Federal Reserve stops raising rates and then cuts them. If interest rates decline again, Bitcoin will be in the "best position."

If the Federal Reserve slows down interest rate hikes, he expects Bitcoin to reach $40,000. (Bloomberg)

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