Mike Novogratz: Bitcoin Holders Can Expect BTC To Rally

There are all kinds of optimistic crypto predictions taking place in the crypto space. Check out the latest ones below.

At the moment of writing this article, Bitcoin is trading in the red and the king coin is priced at $27,126.

Galaxy Digital CEO Mike Novogratz reveals when he believes Bitcoin (BTC) could act as the driving force behind a widespread crypto market rally.

The Bitcoin bull made sure t o highlight the reasons for which he believes the king coin is being outperformed by the US stock market.

“Crypto trades poorly. This is going to be a period that tests peoples convictions. We will find a bottom when we do. The break from traditional finance markets is because we don’t have corporate buybacks and giant pension rebalancing that is causing this squeeze in equities.”

During the past week, the S&P 500 is up by nearly 10% from its May 23rd low, while Bitcoin is down nearly 5% over the same time frame.

As per the online publication the Daily Hodl, according to Novogratz, Bitcoin traders should keep a close watch on the Federal Reserve as any shift in its hawkish stance can inspire a rally in the crypto markets.

“BTC will lead the next rally when the Fed pauses/flinches. Good projects will follow suit. This industry will not go away. We are just adjusting to the popping of an asset bubble caused by the Fed. Building revolutionary tech and change isn’t supposed to be easy.”

Real Vision CEO Raoul Pal says he believes that Ethereum (ETH) will likely outperform Bitcoin (BTC) in the long run.

During a new interview on Crypto Banter, Pal says that even though the top crypto asset by market cap beats ETH in total trading volume and number of active wallets, Ethereum has found a way to outperform BTC over the last few years.