CEO of Galaxy Digital: Bitcoin will consolidate in the short term before it rises

Former hedge fund manager and credit investment bank Galaxy Digital CEO Mike Novogratz said he believes Bitcoin has consolidated its primary use as a means of value storage and believes that Bitcoin will first consolidate in the short term before it rises. In addition, Novogratz stated that Ethereum is most likely to be the primary infrastructure for ecosystems, allowing blockchain developers to build robust applications. When asked about the altcoin market, Novogratz said traders should look for cryptocurrencies with powerful use cases that generate news and drive momentum.