This Is Why It Could Be Dangerous To Be Short In Bitcoin And DOGE

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With major cryptocurrencies bleeding out in the past day, fear seems to be taking over the market. However, the CEO of Galaxy Digital and Bitcoin Bull Mike Novogratz is optimistic for the medium and long term. In an interview for CNBC, Novogratz spoke about the danger of being short Dogecoin, BTC, and made some predictions on their prices. Up 314.9% in the 30-day chart and 24% over the week, DOGE is an asset hold by those on the “same movement” that gave GameStop (GME) stocks a fresh drive. Led by the subreddit r/Wallstreetbets, GME’s persistent rally placed some Wall Street big players on the other side of a bad trade. Novogratz believes DOGE is fuel by a similar excitement. Galaxy Digital CEO said: Dogecoin speaks to a lot of the same movement that GameStop did. There is a kind of crazy excitement around very young investors, around meme coins and…

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