Skip to content

Novogratz Says Crypto Market Is Closer to a Bottom Than Stocks

  • Galaxy founder makes comment at Morgan Stanley conference
  • Ether to hold around $1,000, Bitcoin at $20,000 level, he says
Video player cover image
Bitcoin Sinks to 18-Month Low, Leading Crypto Selloff
From

Mike Novogratz, the founder and chief executive officer of Galaxy Digital Holdings Ltd., said that cryptocurrencies are closer to a “bottom” than the U.S. equity market.

Both sectors tumbled Monday as investors brace for a more hawkish Federal Reserve to ratchet up interest rates, raising the risk of a US recession. Crypto has been especially hit hard with the lending platform Celsius halting withdrawals on Monday.