Michael Novogratz: “I do not believe in the fall of bitcoin to $13 000» – Bits Media

Galaxy Digital General Michael Novograts counts, that the fall of the cryptocurrency market is close to completion, but, In the near future there may be the last "jerk" of the bears.

In an interview with Squawk Box on the CNBC channel, Michael Novograts (Michael Novogratz) stressed, that not believes in the fall of bitcoin to $13 000. In his opinion, The vast majority of marginal positions have already been forcibly closed.

“We see a huge number of positions with our shoulders, With big shoulders. Moreover, Thus, centralized cryptocurrency companies sell, not decentralized projects. for instance, Celsius, Three Arrows, Blockfi - they have a huge number of margin positions. And now we see, How they are bankrupt. Therefore, Deleveridge is going on in the market - I think, already 90% Margin positions are closed. The problem is, that for growth you need a faith in the market and the influx of capital ", - said the billionaire.

Novogradz noted, that the market can still fall, but more likely consolidation and side trend. At least, until, Until the Fed does not finish the rise of basic bets. Previously, CEO Galaxy Digital said, that the restoration of the cryptocurrency market largely depends on the US Federal Reserve.

Note, that at the time of publication, the first cryptocurrency is traded in $22 000. Growth over the past day has been 8%.