{"id":49941,"date":"2021-09-22T13:56:53","date_gmt":"2021-09-22T10:56:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49941"},"modified":"2025-09-02T15:22:48","modified_gmt":"2025-09-02T12:22:48","slug":"mike-novogratz-identifies-key-price-levels-for-bitcoin-and-ethereum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mike-novogratz-identifies-key-price-levels-for-bitcoin-and-ethereum\/","title":{"rendered":"Mike Novogratz identifies key price levels for Bitcoin and Ethereum"},"content":{"rendered":"<p>Galaxy Digital founder Mike Novogratz told CNBC that he is not worried about the near-term prospects of the crypto market, as long as Bitcoin stays above $40,000 and Ethereum above $2,800.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u00abWe held $40,000 overnight in <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> and $2,800 in <a href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#ethereum<\/a>. Those are very important levels for people to watch. As long as those hold, I think the market is in good shape,\u00bb says <a href=\"https:\/\/twitter.com\/novogratz?ref_src=twsrc%5Etfw\">@novogratz<\/a> on <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> during <a href=\"https:\/\/twitter.com\/hashtag\/evergrande?src=hash&#038;ref_src=twsrc%5Etfw\">#evergrande<\/a>. <a href=\"https:\/\/t.co\/hcKuhUssAq\">pic.twitter.com\/hcKuhUssAq<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1440282562648100867?ref_src=twsrc%5Etfw\">September 21, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs long as those levels hold, I think the market is in good shape,\u201d<\/p>\n<p> he noted.<\/p><\/blockquote>\n<p>The September 20 <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-43000-2\">sell-off on the market<\/a> he called a \u201chealthy correction\u201d after several months of gains.<\/p>\n<p>In his view, the decline in digital-asset prices did not dampen demand from institutional investors.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI see nothing but interest and activity from our clients and corporate investors,\u201d Mr. Novogratz added.<\/p>\n<\/blockquote>\n<p>The correction, in his view, was triggered by concerns about <a href=\"https:\/\/u1f987.com\/en\/news\/crypto-community-wary-of-another-amendment-to-the-us-infrastructure-plan\">regulatory decisions in the United States<\/a> and news of the <a href=\"https:\/\/u1f987.com\/en\/news\/possible-default-by-a-chinese-developer-rattled-markets-weighing-on-bitcoin\">possible default of one of the largest Chinese developers<\/a> Evergrande.<\/p>\n<p>Novogratz believes the latest hit to crypto prices stems from the fact that a large portion of the collateral backing the market\u2019s important stablecoin Tether (USDT) consists of securities issued by Chinese companies, notably Evergrande.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">As expected <a href=\"https:\/\/twitter.com\/CNBC?ref_src=twsrc%5Etfw\">@CNBC<\/a> brought out <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> pumper <a href=\"https:\/\/twitter.com\/novogratz?ref_src=twsrc%5Etfw\">@novogratz<\/a> to offer his supposedly unbiased expert opinion as to the significance of yesterday\u2019s <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> sell-off and what it portends for the crypto industry and the market. This is not reporting. CNBC is a paid marketing platfrom.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1440280907974266887?ref_src=twsrc%5Etfw\">September 21, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, the issuer of USDT has previously denied such claims.<\/p>\n<p>The well-known Bitcoin critic Peter Schiff attacked CNBC after Novogratz\u2019s interview, calling the channel a \u201cpaid marketing platform\u201d for cryptocurrencies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs expected <a href=\"https:\/\/twitter.com\/CNBC?ref_src=twsrc%5Etfw\">@CNBC<\/a> brought out <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> pumper <a href=\"https:\/\/twitter.com\/novogratz?ref_src=twsrc%5Etfw\">@novogratz<\/a> to offer his supposedly unbiased expert opinion as to the significance of yesterday\u2019s <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> sell-off and what it portends for the crypto industry and the market. This is not reporting. CNB\u0421 is a paid marketing platfrom.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1440280907974266887?ref_src=twsrc%5Etfw\">September 21, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Schiff himself again <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-forecasts-an-imminent-collapse-of-the-cryptocurrency-market\">predicted the imminent end<\/a> of the \u201ccryptocurrency bubble.\u201d<\/p>\n<p>Prices of Bitcoin briefly dropped below the level he flagged after Novogratz appeared on CNBC, <a href=\"https:\/\/t.me\/forklog\/21553\">\u043a\u0440\u0430\u0442\u043a\u043e\u0441\u0440\u043e\u0447\u043d\u043e \u043f\u0440\u043e\u0432\u0430\u043b\u0438\u043b\u0438<\/a> the level. Ethereum also <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">\u043e\u043f\u0443\u0441\u043a\u0430\u043b\u0430\u0441\u044c<\/a> \u043d\u0438\u0436\u0435 $2,800.<\/p>\n<p>Earlier, Novogratz said that the American community had moved to the lead in the industry as a result of the war waged by Chinese authorities against digital assets.<\/p>\n<p>He also noted that policymakers in the United States do not understand cryptocurrencies well enough and hinder the spread of innovation in the financial sphere<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital founder Mike Novogratz told CNBC that he is not worried about the near-term prospects of the crypto market, as long as Bitcoin does not fall below $40,000 and Ethereum at $2,800.<\/p>\n","protected":false},"author":1,"featured_media":49942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1303,1138],"class_list":["post-49941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-mike-novogratz","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49941"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49941\/revisions"}],"predecessor-version":[{"id":49943,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49941\/revisions\/49943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49942"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}