Galaxy Digital’s CEO offers advice on how to get rid of turbulent markets, both traditional and crypto.
Galaxy Digital CEO Michael Novogratz was asked about the biggest trade mistakes people make. Novogratz said that while people are in a hurry, actions such as not observing what is happening in margins and focusing on short-term strategies are the most important mistakes.
Michael Novogratz, founder and CEO of Galaxy Digital, explained the details of the most common and costly mistakes investors made today and underlined the current lack of trust in Bitcoin.
Novagratz listed the errors as follows:
What about Bitcoin? “I don’t think we’ll see a price increase in Bitcoin unless we see no deflation,” said Novogratz. With this sentence, the CEO was actually talking about halving, which is expected to happen 52 days later. Last week, Bitvo tweeted that trust in the Novogratz cryptocurrency had evaporated when its lowest annual value dropped to 5,300.
In fact, Novogratz tried to warn crypto investors that a black swan incident like the coronavirus crisis could be bad for Bitcoin. On March 1, he tweeted that investors tend to liquidate all their assets during such events.
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