Mike Novogratz: the crypto industry has benefited from Donald Trump’s election victory

Mike Novogratz, the founder of Galaxy Digital investment firm, believes that cryptocurrencies will experience a significant rise after Trump’s victory and that the cryptocurrency sector will undergo important changes.

According to the forecast, the cryptocurrency market will gain additional energy, and «hundreds of billions» will pour into the ecosystem.

Novogratz’s comments reflect the growing confidence in the future of the market, which is increasingly brightening under the Trump administration’s leadership due to clearer regulation of digital assets.

The analyst believes that the Republican Party’s view of cryptocurrencies after Trump’s victory will strengthen efforts to create a favorable environment for institutional and retail investors.

«A more liberal approach to digital currencies and a clearer framework for digital assets that are similar to securities could generate enthusiasm among key players such as exchanges, crypto miners, and financial institutions,» Novogratz said.

The energy shift that Novogratz is referring to refers to a new wave of investment and innovation in the crypto space, driven by expectations that the Trump administration could accelerate the adoption and integration of digital assets into mainstream finance.

The analyst added that the market currently looks very promising for growth, so significant investments will enter the industry, increasing its valuation and wider acceptance.

Earlier, Captain Faibik analyst emphasizes an important technical milestone for bitcoin to break out of the «downward wedge» pattern that has been forming since the end of February, so by the end of 2024, the value of bitcoin could increase by 30%.

By the way, CryptoQuant analyst CoinLupin predicted a further rise in the price of the cryptocurrency to $ 120,000 on November 5, amid the growing trend of Bitcoin on Election Day in the United States .