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Opinion: The "biggest bull run catalyst" for Bitcoin may be the next Fed chair candidate.
On September 27, Galaxy Digital CEO Mike Novogratz stated that if the next nominee to replace Powell as Fed chair is an extremely dovish individual, Bitcoin prices could see a significant rise. In an interview with Kyle Chasse released on YouTube on Friday, Novogratz remarked, "That could be the potential biggest bull run catalyst for Bitcoin and the entire Crypto Assets space." Novogratz said, "If the Fed cuts rates when it shouldn't and you appoint an extremely dovish chair," it could lead to a "final explosive pump" moment for Bitcoin. "Could Bitcoin rise to $200,000? Of course... because if this happens, it will be a whole new conversation." Novogratz, although this radical rate cut potential scenario is Favourable Information for Crypto Assets, the cost would be very high. "Do I want it to happen? No. Why? Because I kind of love America," he said. "It would really be bad for America," adding that the Fed could potentially lose its independence.