Mike Novogratz talks about the future of Bitcoin and NFT in 2022

The head of Galaxy Investment wrote on his Twitter account that 2022 will be a great year for NFT projects. They will bypass the growth of cryptocurrency.

His words are indirectly confirmed by the success of trading on the NFT market. For example, according to Dune Analytics, on the most famous open marketplace OpenSea, daily sales volume on February 1, 2022 amounted to $247 million. At the same time, the total trading volume for January on the market was $7 billion, and commission fees on OpenSea exceeded Uniswap DEX revenue.

In a recent media interview, Mike Novogratz also noted that the US Federal Reserve has taken a very tough stance on the cryptocurrency market. And this year, digital assets will have a hard time.

The fact is that in 2020-2021, the actions of the Fed became an incentive for the crypto asset bubble. The prices of many of them have inflated to incredible proportions.

Now a correction has come, and altcoins have lost 50-70% of their value. Also in the first weeks of the new year, the market became bearish, there were a lot of panic selling. So don't expect a quick recovery.

His words confirm the forecasts of other experts who say that the market needs at least 3-4 months to recover. However, by the end of 2022, bitcoin may again rise in price to a six-figure amount.

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