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Michael Novogratz explains why Bitcoin’s volatility is likely to drop further

                                                            Mike Novogratz – CEO von Galaxy Investment Partners – äußerte sich kürzlich über die zukünftige Preisvolatilität von Bitcoin.  Hier ist, was er zu sagen hatte.
  • On CNBC’s Squawk Box, Joe Kernen pointed out to Novogratz that Bitcoin is up 66% year-over-year, but 30% below its high of $ 69,000. He then asked if the institutional introduction would reduce this apparent volatility.
  • “I think the volatility is decreasing,” replied Novogratz. He realizes that Bitcoin is relatively stable compared to Altcoins.
  • The CEO also mentions that the short-term speculative investors who used to be involved in Bitcoin may switch to other coins with potentially greater upside potential. In fact, a CryptoPotato analysis finds that Shiba Inu has drawn a lot of attention from retail buyers, potentially affecting Bitcoin’s price volatility.
  • Although Bitcoin could become more stable, Novogratz doesn’t believe it will become a transactional currency.
  • “I think it’s tailor-made to be a store of value,” he said. Though he recognizes innovations like the lightning network that enable faster transactions, he claims that Bitcoin will be digital gold and reiterates his mind starting July.
  • Bitcoin’s reputation as a gold-like inflation hedge is growing rapidly. Bloomberg recently said its deflationary forces would help it hit $ 100,000 next year.
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Source: Crypto News Deutsch

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