Bitcoin billionaire Mike Novogratz says plunging crypto will have a hard time rallying until stocks find a base

Markets Insider
Markets Insider
Mike Novogratz. Bryan Bedder/Getty Images for Hudson River Park
  • Mike Novogratz said cryptocurrencies will struggle to pull out of their sell-off if stocks keep falling.
  • The crypto billionaire said Thursday this is a bear market, and told people to sell rallies and not buy dips.
  • The crypto sell-off intensified Friday, as bitcoin plunged below $40,000 for the first time since August.
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