Galaxy CEO @novogratz on $BTC move following Iran's missile attack and what's driving price moves.
@SquawkCNBC @novogratz Andrew, Bitcoin does not trade versus traditional macro. It is affected by liquidity and supply/demand. It does seem to trade according to traditional technical analysis, ie it is in an overbought range and appears to be breaking down from that range.
@SquawkCNBC @novogratz “you can always look with real myopic eyes at price action” 🙄 Just be honest, Bitcoin - and the entirety of the crypto space - is nothing more than a magnet for more sophisticated suckers.
@SquawkCNBC @novogratz Y’all always got the key players of #ETHGate on your program. How many #ETH did @novogratz buy from the illegal ICO for under a dollar….
@SquawkCNBC @novogratz Bitcoin, one of 10,600+ crypto currencies. What could go wrong.
@SquawkCNBC @novogratz You mean “Irans failed missile attack”.
@SquawkCNBC @novogratz Bitcoin will be $1M and Sorkin will still be on here whining about how he doesn’t understand it
@SquawkCNBC @novogratz They can never answer the tough questions. They love to talk about how it's the best performing asset class this past year which still doesn't answer the tough questions. Andrew asked some tough questions and Novigratz didn't really have the answers.
@SquawkCNBC @novogratz It is correlated with fear.... uncertainty and interest rates.. when you have fear or uncertainty... it will go down.. @andrewrsorkin