Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-05-06 13:59:35

Galaxy Digital's Mike Novogratz: `We are not going to get a soft landing'

Michael Novogratz, founder and CEO of Galaxy Digital (OTCPK:BRPHF), said the U.S. economy is not going to see a "soft landing." "When inflation gets as high as it gets, you need the economy in a recession to stop inflation," Novogratz said earlier in an interview on CNBC. "But you've got inflation expectations that have come a bit unhinged." "When you look at the Ark fund or you look at some of the big hedge funds that are down, that often leads to liquidation," Novogratz added. "The market senses blood and goes for those positions. And so bear markets are hard to trade. You are going to see vicious bear market rallies, but you know the Nasdaq selloff isn't over. As long as the Nasdaq and other risk assets are selling off crypto won't trade spectacularly well." Developing story ...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer