In a recent Fox Business interview, prominent cryptocurrency advocate and investor Mike Novogratz predicted that Bitcoin would continue to trade higher this year. Novogratz cited the regional banking crisis and the debt "orgy" in the U.S. as catalysts for the rise.
He also expressed his belief that the Federal Reserve will be forced to cut interest rates later this year, which could serve to further boost cryptocurrency markets.
Novogratz attributed the strength of Bitcoin's performance to the recent banking crisis. He also discussed the potential impact of interest rates, asserting that they may have already been raised too much.
Despite facing numerous challenges, such as the Wells notice received by Coinbase, Bitcoin has demonstrated resilience and maintained substantial growth this year, Novogratz noted.
Vladislav Sopov