BTC and LUNA Review by Mike Novogratz

Mike Novogratz assesses the LUNA collapse; talks about cryptocurrency leader Bitcoin.

Mike Novogratz, CEO of Galaxy Digital, known for his consistent comments about the cryptocurrency market, made evaluations about the Terra (LUNA) collapse in May and the leading Bitcoin BTC. Speaking at the Token 2049 conference in Singapore, Mike Novogratz noted that many LUNA investors held LUNA tokens for too long. Stating that there is a lack of risk management in LUNA investors, the famous commentator said: "When the Terra network and LUNA collapsed in May, everything was heartbreaking. But this was an important lesson for the cryptocurrency industry. When a coin goes from 20 cents to $100, you need to take a profit. But if you're not taking a profit, that's crazy. The main problem here is that many retail investors who excitedly bought the LUNA token lack risk management when it comes to taking profits." Mike Novogratz, who also evaluated the general cryptocurrency market other than LUNA, noted that cryptocurrencies have been relatively more robust in the past month. Mike Novogratz added that Bitcoin (BTC) and cryptocurrencies will rise again as soon as the FED gives up its aggressive monetary policy. "We are in a strange equilibrium with a few buyers and a few sellers," said Novogratz, who thinks there are not many forced sellers left in the market. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account! The investment information, comments and recommendations in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.