Galaxy CEO: This Cycle Has Not Peaked Yet, a New Fed Chair Could Drive the Next Rally

ChainCatcher News, Galaxy Digital founder and CEO Mike Novogratz stated on social media, "Currently, our company's employee shareholding ratio is the highest in both the cryptocurrency and data center industries. The crypto market has been performing quite sluggishly recently. Personally, I believe that after a prolonged bull market, many long-term holders are rebalancing their assets, diversifying some funds from overly concentrated positions. In the medium to long term, this is a healthy development, as these positions will gradually be absorbed by a broader range of investors; but in the short term, this adjustment acts like a wet blanket, suppressing market prices. I do not believe we have reached the peak of this cycle yet. I think by the end of this year, we will see a new Federal Reserve Chair, who may be even more dovish (accommodative) than the market expects. Hopefully, this will provide enough narrative momentum for the market to drive the next wave of gains."