Mike Novogratz, CEO of Galaxy Digital who was a hardcore proponent of LUNA at a conference predicts the next crypto bull run would begin in Q4 2022. He also believes that the FED is going to take some extreme steps with respect to cryptos and hence says that he would not trade before that.
“Hopefully by Q4 the economy will show enough for the FED to say we are going to take a break and then you will see the next crypto cycle begin. Then Bitcoin will separate from stocks and lead the markets,” he said.
Along with the bull-run prediction, the CEO also predicted that the US inflation rates are also going to drop to 5%. Moreover, he also believes that the crypto space may eventually decouple from the stock markets.
Speaking of LUNA, Mike says that “fighting the impulse to be so greedy. Those who entered LUNA early enough had an easy 300x return and that is not the reality in the markets. When ecosystems go very fast, there is a reason for that. Know what you are investing in. You don’t get 18% for free”.
Currently, the Bitcoin prices are following a tough time, as numerous reasons have restricted the BTC price below $30,000. Moreover, the BTC prices are expected to drop to $20K very soon, dragging the entire crypto space lower. Yet the possibilities of a rebound may soon make some room that could uplift the prices above local resistance.
This may be the time when bulls can enter the market to stabilize a meaningful rally towards yearly targets. And so until Bitcoin (BTC) prices rally back above $35,000, we can expect less chance of the markets stabilizing.
