Bitcoin and crypto billionaire Mike Novogratz said he doesn’t think Bitcoin will fall any further.
Mr Novogratz, who is the chief executive of crypto investment management company Galaxy Digital told CNBC: “On the charts, $38,000, $40,000 feels like where we should bottom”.
He added: “I know big institutions who are going through their process to put positions on and so I think they’re gonna see those as attractive levels to buy.”
However, Novogratz also warned that if the US Federal Reserve failed to get a handle on inflation, the situation could spiral out of control.
He said: “If inflation doesn’t come down like the Fed thinks, all bets are off.”