Galaxy Digital boss Mike Novogratz believes that upcoming market rallies will likely fade, according to a recently posted tweet.
While bulls hope that the U.S. eventually slows, the billionaire claims that this is not the case.
As reported by U.Today, Novogratz has repeatedly opined that the cryptocurrency market was very unlikely to recover without a potential Federal Reserve pivot.
However, hopes of a more accommodative monetary policy faded in the face of a more accommodative monetary policy.
As reported by U.Today, Novogratz predicted that the Fed would raise interest rates "a few more times."
Earlier today, Bitcoin came close to reclaiming the $20,000 level, but it then lost some steam.
Novogratz recently warned that the cryptocurrency market wouldn't head straight back after a massive correction.
The cryptocurrency mogul remains bullish on the largest cryptocurrency in the long term. Last month, he said that the case for Bitcoin was playing out "every day."