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Galaxy Digital’s CEO, Mike Novogratz, forecasts a bullish future for Bitcoin irrespective of the upcoming US presidential election results. Speaking on the Unchained YouTube channel, he confidently stated that Bitcoin would ignite a new bull market soon after the election, signaling robust growth for the cryptocurrency.
Novogratz speculated that a victory for Donald Trump would rapidly push Bitcoin’s value above $73,000. However, a win for Democratic candidate Kamala Harris might briefly dip Bitcoin prices to the high $50,000s before climbing swiftly. His predictions reflect a strong belief in Bitcoin’s resilience and potential for rapid recovery.
Despite his optimism for Bitcoin, Novogratz expressed concerns about the US fiscal health, critiquing its high debt levels. He argued that debasing the dollar might be the only viable solution to manage the debt, potentially leading to controlled inflation rates of 4% to 5%. Under such economic conditions, he believes Bitcoin will continue to rise, presenting a hedge against inflation.
