{"id":12555,"date":"2021-09-26T22:54:13","date_gmt":"2021-09-26T22:54:13","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-mike-novogratz-says-bitcoin-market-is-in-good-shape-china-has-less-and-less-influence-over-crypto\/"},"modified":"2021-09-26T22:54:13","modified_gmt":"2021-09-26T22:54:13","slug":"billionaire-mike-novogratz-says-bitcoin-market-is-in-good-shape-china-has-less-and-less-influence-over-crypto","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/billionaire-mike-novogratz-says-bitcoin-market-is-in-good-shape-china-has-less-and-less-influence-over-crypto\/","title":{"rendered":"Billionaire Mike Novogratz Says Bitcoin Market Is \u2018in Good Shape\u2019 \u2014 China Has \u2018Less and Less\u2019 Influence Over Crypto"},"content":{"rendered":"

The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees \u201cso much capital coming into the space.\u201d <\/strong>He also commented on the dwindling influence China has over the crypto market.<\/strong><\/p>\n

Billionaire Investor Says the Market Is \u2018in Good Shape\u2019 \u2014 \u2018I\u2019m Not Nervous\u2019<\/h2>\n

Galaxy Digital CEO Mike Novogratz commented on the crypto market and the latest news of China\u2019s crackdown<\/a> on cryptocurrencies Friday.<\/p>\n

He explained that the crypto market was down for three reasons. The first is China reiterating its anti-crypto and anti-freedom stance. The second is the U.S. Federal Reserve \u201cputting taper in motion,\u201d and the third is the big overhead resistance level for bitcoin and ether. Novogratz noted that he believes BTC<\/a> and ETH<\/a> will consolidate.<\/p>\n<\/p>\n

At the time of writing, the price of bitcoin stands at $43,695 and the price of ether stands at $3,090 based on data from Bitcoin.com Markets.<\/p>\n

Furthermore, the billionaire CEO believes that the bitcoin market is in good shape. In an interview with CNBC last week, he explained that the $40,000 level for bitcoin and $2,800 for ethereum \u201care very important levels for people to watch,\u201d noting:<\/p>\n

As long as those hold, I think the market is in good shape.<\/p>\n

Novogratz further shared: \u201cI\u2019ve seen nothing but engagement activity from our investing clients and our corporate clients. The level of inquiry, the level of business hasn\u2019t been higher.\u201d He continued:<\/p>\n

We see so much capital coming into the space, in private ways and public ways. I am not nervous.<\/p>\n

Commenting on China\u2019s influence over the prices of cryptocurrencies, particularly BTC<\/a> and ETH<\/a>, Novogratz said: \u201cIt was a lot more important five months ago before China basically said we\u2019re banning crypto so miners have moved out of China.\u201d<\/p>\n

He continued: \u201cChina was never a big source of innovation in the space but it was a big source of trading and I think there\u2019s still plenty of trading in China \u2026 The Chinese are smart, they know how to use VPNs, but it\u2019s harder and harder and so I think it\u2019s less and less important.\u201d<\/p>\n

Do you agree with Mike Novogratz? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nMarkets and Prices, billionaire, Bitcoin Market, china crypto influence, china influence, crypto market, Galaxy Digital, good shape, Mike Novogratz<\/p>\n","protected":false},"excerpt":{"rendered":"

The billionaire investor and CEO of Galaxy Digital, Mike Novogratz, says the bitcoin market is in good shape, noting that he sees \u201cso much capital coming into the space.\u201d He also commented on the dwindling influence China has over the crypto market. Billionaire Investor Says the Market Is \u2018in Good Shape\u2019 \u2014 \u2018I\u2019m Not Nervous\u2019…<\/p>\n","protected":false},"author":0,"featured_media":12556,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12555"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12555"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12556"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}