{"id":139463,"date":"2021-09-22T10:51:37","date_gmt":"2021-09-22T10:51:37","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139463"},"modified":"2021-09-22T10:51:37","modified_gmt":"2021-09-22T10:51:37","slug":"2800-is-an-important-level-for-ethereum-says-mike-novogratz","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/2800-is-an-important-level-for-ethereum-says-mike-novogratz\/","title":{"rendered":"$2,800 Is an Important Level for Ethereum, Says Mike Novogratz"},"content":{"rendered":"<p>Mike Novogratz, Founder and CEO of Galaxy Digital, believes that $2,800 is the most important price level for Ethereum, the world\u2019s second-largest cryptocurrency.<\/p>\n<p>In a recent interview with CNBC, the former Hedge Fund Manager mentioned that if Bitcoin stays above $40,000 and Ethereum holds the price level of $2,800, then the crypto market will see a jump in demand from retail and institutional investors.<\/p>\n<p>\u201cWe held $40,000 overnight in Bitcoin and $2,800 in Ethereum. Those are very important levels for people to watch. As long as those hold, I think the market is in good shape,&#8221; Novogratz told CNBC yesterday.<\/p>\n<p>On Wednesday, the price of Bitcoin dipped below $40,000, and Ethereum touched a low of $2,700. However, due to immense demand, BTC and ETH recovered quickly above $42,000 and $2,900, respectively.<\/p>\n<p>Commenting about the future of the crypto market, Novogratz said that he is not nervous. \u201cI see nothing but engagement and activity from our investing clients and our corporate clients. The level of business in the crypto market has increased. We see so much capital coming into the space. I\u2019m not nervous, but the prices are prices, and it was an ugly day in crypto yesterday,\u201d he added.<\/p>\n<h2>Gary Gensler on Crypto<\/h2>\n<p>In an interview with Washington Post, Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), criticized unregulated digital exchanges and crypto lending platforms. \u201cThere are trading platforms where you can buy and sell these [digital tokens], lending platforms where you can earn a return on these tokens and it\u2019s highly likely that they have on these platforms securities that the SEC is legally obligated to regulate,&#8221; Gensler said.<\/p>\n<p>\u201cI do really fear\u2026there\u2019s going to be a problem with lending platforms or trading platforms, and frankly, when that happens, a lot of people are going to get hurt,\u201d the SEC Chairman added.<\/p>\n<p>Since the start of 2021, speculations around cryptocurrency regulations in the US have increased significantly.<\/p>\n<p>Source: <a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/2800-is-an-important-level-for-ethereum-says-mike-novogratz\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike Novogratz, Founder and CEO of Galaxy<\/p>\n","protected":false},"author":3,"featured_media":139462,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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