Mike Novogratz, founder and CEO of Galaxy Digital, made remarkable assessments regarding the crypto markets in his statement on the social media platform X. Galaxy CEO Novogratz: “We Haven't Reached the Top of This Cycle Yet, A Dovish Fed Chair Could Revitalize the Market by Year-End.” While Novogratz acknowledged that current market conditions are weak, he noted that this is due to long-term investors rebalancing their positions. “After a long bull market, many investors are diversifying their portfolios by pulling some capital out of areas where they were overly concentrated. “While this process puts pressure on prices in the short term, it makes the market healthy by enabling a transition to a broader investor base in the long term,” he said. Novogratz highlighted that Galaxy has the highest employee stock ownership ratio in both the cryptocurrency and data center sectors. Speaking about the macroeconomic outlook, the experienced investor argued that the peak of the current cycle has not yet been reached. “I expect a new Fed chair to be in place by the end of the year. If that person adopts a more dovish policy than market expectations, that could inject new momentum into the market,” Novogratz said. Novogratz added that the potential leadership change and possible softening of interest rate policies could trigger a new wave of bullish activity in the crypto market. *This is not investment advice. Continue Reading: Mike Novogratz, Founder of Galaxy Digital, Said We Haven't Reached the Top of the Cycle Yet! Here Are the Details
