BlockBeats News, September 27th, Galaxy Digital CEO Mike Novogratz stated that if the next nominee to replace Powell as Federal Reserve Chair is an extremely dovish individual, then the price of Bitcoin may experience a significant uptrend. Novogratz said in an interview with Kyle Chasse posted on YouTube on Friday: “That could be the potential biggest bull catalyst for Bitcoin and the entire cryptocurrency space.”
Novogratz said, “If the Fed cuts rates when they shouldn’t be cutting, and you appoint an extremely dovish chairman,” this could lead to a moment of “final explosive rise” for Bitcoin. “Could Bitcoin go to $200,000? Of course it could… because if this scenario happens, that would be a whole new narrative.”
While this aggressively dovish rate-cutting scenario is a positive for cryptocurrency, the cost would be high. “Do I want it to happen? No. Why not? Because I kind of love America,” he said. “It would be really bad for America,” and he added that the Federal Reserve could potentially lose its independence.
