In an interview with CNBC’s Squawk Box, Novogratz expressed his thoughts on the present situation of the cryptocurrency sector, which is now experiencing a bearish sentiment in the market. When asked what he thinks would happen to Bitcoin in the future, the investor said that cryptocurrency would continue to be associated with the Nasdaq stock market index. Examining where Bitcoin will be three to four years from now, and determining if this might be one of the greatest purchasing chances of all time, or whether it is better to hang onto cash since the buying opportunity is still a few years away. He added:
Major news is needed to impact the crypto market
What distinguishes the current situation from that of Covid is that there is no large infusion of cash to spur the v-shaped rebound. In the meantime, he noted: “we’re going to grind until there’s a new story that shows up, and then we’re going to take back off again.” Elsewhere, Michael Santoli said: As things stand, Bitcoin is currently trading at $32,810, down 4.84% in the last 24 hours and a further 15.94% across the previous week, according to CoinMarketCap.
