A confidence crisis is roiling the cryptocurrency markets, but according to billionaire Mike Novogratz in a new interview on CNBC's Squawk Box, he doesn't see Ethereum (ETH), the top platform for smart contracts, and Bitcoin (BTC), the king of cryptocurrencies, failing.
"This market is undoubtedly experiencing a crisis of confidence, and things are far from over. There is a significant daisy chain effect at play, and individuals were exposed to FTX as well as Three Arrows [Capital], which was a significant player. Therefore, it will take some time for them to even regain their balance.
Bitcoin is here to stay. Since 150 million people have chosen to keep a portion of their net worth in this decentralized community that is confirmed by cryptography, neither Bitcoin nor, to be honest, the blockchain in Ethereum or anything else, is ever going away.
The CEO of Galaxy Digital continues by predicting that, while a rebound for the cryptocurrency market is expected, it will be gradual rather than sudden.
So do you agree or not?
Posted Using LeoFinance Beta
Congratulations @cryptodonator! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 60 posts.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Check out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!