Predictions from 2 Billionaires: This Altcoin Market Will Win!

Two billionaire crypto phenoms have revealed segments of altcoins that they think will be permanent in the long run.

Mike Novogratz says this altcoin branch is ‘better’

Galaxy Digital CEO Mike Novogratz said in a speech at the SALT forum in New York that the DeFi division will sit at the top of the market. According to the crypto phenomenon, due to its solid fundamentals, the DeFi division will be permanent in the long run. Here are some of the statements Novogratz made about DeFi on the SALT forum:

I always say that DeFi will win because it’s a neater piece. Can be combined. Transparent. It is placed automatically. It’s just a more affordable artifact, so it will win in the long run. In the short term, there are many people who don’t want him to win.

Mike Novogratz at the SALT forum in New York

Novogratz also highlighted the DeFi branch’s need for regulations. He said the segment has an imperative to establish standards that can prevent the sharp price movements that have occurred this year:

…When you look at what happened last year, the industry did a disastrous job of self-regulating. Companies like Celsius used enormous leverage by taking consumer deposits, overnight deposits and lending them three, four, five years, an asset-liability mismatch that no rational man could manage… There are 15 firms like that. It was stupid if not illegal… Regulators didn’t have the tools to audit these companies. They had no foresight, so I don’t let the regulators in on this.

Experienced Manage

Mark Yusko, founder and CEO of Morgan Creek Capital Management, says that Bitcoin (BTC) has essentially left the worst behind. He added that he expects a decrease in his participation in YouTube channel Thinking Crypto for a while after the Ethereum merge. The veteran hedge fund manager says the market has reached the bottom and is now heading for the next bull cycle.

As the global economic downturn has battered countries around the world, Yusko argues that even if the Fed continues to raise interest rates, it will have only a limited impact on global prices:

I firmly believe that a calmness continues. Not a depression, but a brief calm in the vein of 2001. I believe the Fed could tighten things up too much and cause trouble, but here’s the thing: How much will the rate hike be? The fact that the Fed did it before the price of Ukrainian wheat changes is irrelevant, right?

“I think the Fed will turn around”

According to Yusko, if the Fed changes its mind on interest rates, the outcome will be positive for cryptocurrencies.

I think there is a calm. As a result, I believe the Fed will change course. On the contrary, we will experience a rally that melts faces when they return. I mean face melter because there are tons of shorts in crypto and they’re going to burn. As you follow, the Fed increased interest rates by 75 basis points on September 22. Gold, Bitcoin and other markets have been on the decline since this date.

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