2022 could be year of DiFi, Bitcoin should hold $42K support - Galaxy Digital's Michael Novogratz

Well-known cryptocurrency investor Michael Novogratz said Tuesday that 2022 "could be the year of DiFi," as digital finance companies solve concerns related to regulation and safety. Speaking to Bloomberg TV, the founder and CEO of Galaxy Digital (OTCPK:BRPHF) also commented on recent trading in Bitcoin (BTC-USD), saying he thought the crypto would hold an important support level at $42,000. Bitcoin (BTC-USD) reached an all-time high above $67,000 in early November but has trended lower since. In Tuesday's action, it slipped another 1% to reach $46,872 at about 1:30 p.m. ET. On recent action in crypto generally, Novogratz characterized the trading as "heavy" as the market works through "some excesses" seen earlier in the year, with many participants booking profits from a run-up experienced during October and early November. However, he argued that even though the market is "seeing some indigestion" lately, the process will ultimately be healthy for the long