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Bitcoin on the way to the $ 200,000 mark? Trump could be decisive!
Mike Novogratz warns that a Dovish Fed could drive to $ 200,000 under Trump Bitcoin while the US economy is suffering.
Bitcoin on the way to the $ 200,000 mark? Trump could be decisive!
Mike Novogratz, the CEO of Galaxy Digital, recently identified a potential catalyst that could pave the way to Bitcoin to the $ 200,000 mark. In his analyzes, he brings into play that a "Dovish" Federal Reserve Chair, which is appointed by Donald Trump, could significantly increase Bitcoin prices. However, this possible circumstance also harbors serious risks for the US economy and could endanger the independence of the Federal Reserve, such as crypto.news.
Novogratz warns that aggressive interest rate reductions by a "Dovish" Fed chairman could lead to a so-called "blow-off top" for Bitcoin, which means a rapid increase in courses. The Trump's list of lists of candidates for the FED chair, which includes Kevin Hassett, Christopher Waller and Kevin Warsh, is currently observing. In addition to the potential advantages for Bitcoin, Novogratz emphasizes that the economic framework conditions that could result from such a decision would be more disadvantageous for America.
Economic concerns from Dovish Fed
A DOVISH FED chairman would weaken the US currency and make risk of risk, such as Bitcoin, because traditional systems have less tempting. Novogratz describes its split feelings on the subject: The prospect of winnings for Bitcoin is overshadowed by the negative economic implications that could bring such a monetary political turn. In his analysis, he emphasizes that the market will not react entirely to this scenario until an official announcement is made by the new FED chairman.
The discussion about the possible appointment of a new FED chair by Trump could have far-reaching consequences for the financial markets. Analysts and investors worldwide are eagerly pursuing the developments related to the list of candidates, while the markets are preparing to react to the announcement. Continuous developments in this regard will undoubtedly influence the direction of Bitcoin prices and illustrate possible effects on the US economy.