The overall decline in the cryptocurrency market will continue for the next year and a half. That was the statement made by Galaxy Digital CEO Mike Novogratz in a recent interview.

In a conversation with New York Magazine, he pointed out that the first steps to return the industry to its previous positions will be made after the U.S. Federal Reserve eases its monetary policy. After the regulator stops raising rates, the mood in the market will change for the better. But it won't happen sooner than in 18 months, Novogratz said according to his intuition.

The head of the company pointed out that the crisis has changed the rules of the game, and now people treat high-risk assets, including cryptocurrencies, differently. Novogratz hoped that it will not be worse than it is now, but added that much depends on what inflation will be in the future.

The millionaire also referred to the USDT steblecoin and said that a collapse of the asset is unlikely, because unlike
its issuing company is more stable than its analogues. Also one of the largest bitcoin exchanges Coinbase will retain its position. According to Novogratz, they have a lot of money and a well promoted brand.