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Galaxy Investment’s CEO predicted that 2022 would be a wonderful year for NFT projects on his Twitter account. They’ll ignore the rise of cryptocurrency.

The success of trading on the NFT market indirectly confirms his words. According to Dune Analytics, the most well-known open marketplace OpenSea had a daily sales volume of $247 million on February 1, 2022. At the same time, the market’s overall trading volume for January was $7 billion, and OpenSea commission fees outstripped Uniswap DEX earnings.

Mike Novogratz also stated in a recent media interview that the US Federal Reserve had adopted a hard position on the crypto sector. Digital assets will have a difficult year this year.

The fact is that the Fed’s 2020-2021 acted as a catalyst for the crypto asset bubble. Many of them have seen their prices soar to unbelievable heights.

Altcoins have lost 50-70 percent of their value due to the correction. The market got bearish in the initial weeks of the new year, with a lot of panic selling. So don’t hold your breath for a rapid recovery.

His views back up other analysts’ predictions that the market will take at least 3-4 months to recover. However, by the end of 2022, bitcoin‘s price may have risen to a six-figure level once more.

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