# Crypto: "Crypto Markets Have a ‘Backstop’ Amid Stagflation Concerns"

Live Trading News is an independent financial media publication. Masthead: Live Trading News. Parent: Knightsbridge Group. Product cousin: KXCO (kxco.ai). Coverage: markets, policy, AI, quantum, blockchain, FX, biotech, ASEAN. New stories are signed ML-DSA-65 and anchored on Armature L1; articles published before the platform launch are not signed. Nothing on the site is investment advice.

Canonical HTML: https://www.livetradingnews.com/crypto-crypto-markets-have-a-backstop-amid-stagflation-concerns
Last modified: 2022-05-07

---

By Paul Ebeling · 2022-05-07
Tags: Shayne Heffernan on Investments, Luxury, investors, Lifestyle, digital, assets, Paul Ebeling, Crypto, Education, crypto, stagflation, Bitcoin, Ethereum, Knightsbridge Insights, Living, Knightsbridge, Featured, KNIGHTS, Business, Long Title Post
Signed: no (published before platform launch).
Nothing in this article is investment advice.

#crypto #stagflation #investors #digital #assets

$BTCUSD

"*Galaxy Digital CEO Mike Novogratz says while US markets will continue to dip lower amid economic concerns, the crypto industry has a bulwark that can eventually stop its bleeding"-*- Paul Ebeling 

In an interview with CNBC, the Mr. Novogratz said that we’re experiencing a period of stagflation and that US markets will not have a soft landing.

*“We are not going to get a soft landing. When inflation gets as high as it gets, you need to put the economy in a recession to stop inflation… Until we see layoffs until we see not 11 million people looking for jobs, you’re not going to see inflation go down.*

*And so we’re going to go through a painful stagflation process… The Nasdaq sell-off isn’t over. As long as the Nasdaq and other risk assets are selling off, crypto will trade spectacularly.”*

However, he notes that the Silver lining for crypto is that blue-chip investors are “*lining up” *to purchase digital assets, which serves as a backstop for the industry.

*“The bright note for crypto is… Amazing institutional capital is starting to line up to come into the place. BlackRock, Blackstone, Citadel, Apollo, [are] all building major crypto efforts.*

*And so it’s completely intuitive to me that there’s a backstop somewhere in crypto.”*

*“I said earlier in the year I thought BTC would be $30,000-$50,000, lots of macro headwinds and lots of adoption, I think that’s still the range. We’re edging toward the lower end of the range. That’s just the setup, unfortunately, it’s a painful one for most investors.”*

[For live Crypto quotes click our dashboard. ](http://crypto.livetradingnews.com/en)

Mr. Novogratz then notes that he still believes $30,000-$50,000 is the trend range of leading digital asset Bitcoin despite recent volatility.

Have a happy, prosperous weekend, Keep the Faith!

---

This Markdown mirrors https://www.livetradingnews.com/crypto-crypto-markets-have-a-backstop-amid-stagflation-concerns. The HTML page is canonical.
Site index for AI clients: https://www.livetradingnews.com/llms.txt