Galaxy Digital’s Mike Novogratz says US crypto legislation will unleash new market participation, which could break the traditional four-year cycle.
The passing of two key crypto bills in the US will usher in a new wave of crypto participation that could upend the traditional four-year market cycle, says Galaxy Digital CEO Mike Novogratz.
Novogratz told Bloomberg on Tuesday that the stablecoin-regulating GENIUS Act, signed into law in July, and the CLARITY Act, which outlines regulatory agencies’ jurisdiction over crypto, would lead to a surge of new investors that would disrupt the four-year cycle pattern.
Many crypto investors believe the market follows a pattern of price movement coinciding with the Bitcoin (BTC) halving roughly every four years. The last halving occurred in April 2024, so some believe the current bull market could soon end.
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