As long as the BTC price remains above $40,000, Bitcoin will be in a “good condition”-Mike Novogratz

Bitcoin (Bitcoin) Will not make Galaxy Digital CEO Mike Novogratz “nervous” unless it drops below $40,000.

In an interview with CNBC on September 21, Notorious bullish investor Allayed concerns about the latest sell-off of cryptocurrencies.

Novogratz about the organization: “I only see participation and activities”

although The macro environment fluctuates With China and Bitcoin dropping as much as 10% this week, there are few bearish voices among well-known crypto industry commentators.

Novogratz is no exception. He believes that the price drop is more like a healthy corrective measure for a market that has spent several months in the “rising only” mode.

“I think the market has been a bit too long-news from China frightened people,” he said, while also referring to concerns about US regulatory activities.

In the short term, the “very important observational level” is Bitcoin $40,000 and Ethereumu2019s token Ether $2,800 (Ethereum).

“As long as these remain the same, I think the market is in good condition,” he continued.

However, in addition to market behavior, the potential demand of institutional investors has not been affected.

“I only see the participation and activities of our investment customers and our corporate customers,” Novogratz added, who concluded that he was not nervous about encryption.

Dario joins Bitcoin “value” debate

At the same time, the voices of other institutions have become more moderate in recent days.

related: Institutional investors increase their holdings of cryptocurrency for the fifth consecutive week

Ray Dalio of Bridgewater Associates appeared in similar media emphasize Although he is an investor, Bitcoin has “perception” rather than intrinsic value.

He warned that regulation may still “stifle” the fate of cryptocurrencies, which also points to the United States.

Nevertheless, Dalio still Greatly softened his stance on Bitcoin Since he first started mentioning and distributing it publicly.

“We can have a philosophical debate about what value is,” Novogratz said of Bitcoin’s true value.

“A Matisse painting can sell for $100 million because a few people think they are worth $100 million. More than 150 million people around the world think Bitcoin is valuable. It’s enough for me.”