TechFlow news, September 27 — According to Galaxy Digital CEO Mike Novogratz, if the next nominee to succeed Powell as Federal Reserve Chair is an extremely dovish candidate, Bitcoin prices could see a significant surge. Novogratz said in an interview with Kyle Chasse posted on YouTube on Friday: "That could be the biggest potential bull catalyst for Bitcoin and the entire cryptocurrency space."
Novogratz said: "If the Fed cuts rates when it shouldn't, and you appoint an extremely dovish chair," this could trigger a "final explosive rally" for Bitcoin. "Can Bitcoin reach $200,000? Absolutely... because if this happens, it becomes an entirely new narrative."
Although such a scenario of aggressive rate cuts could benefit cryptocurrencies, the cost would be high. "Do I want this to happen? No. Why? Because I kind of love America," he said. "This would really be terrible for the United States," adding that the Federal Reserve could lose its independence.
