Mike Novogratz is predicting that Bitcoin could blow past $200,000 if Donald Trump goes through with his plan to replace Jerome Powell with a “massive dove” at the U.S. Federal Reserve.Speaking in an interview with Kyle Chasse uploaded to YouTube on Friday, Mike, the CEO of Galaxy Digital, said this single decision might be the biggest trigger for crypto in years. “That’s the potential biggest bull catalyst for Bitcoin and the rest of crypto,” he said.Mike made it clear that if the Fed starts slashing when it has no business doing so, the result won’t just be another rally. It’ll be what he called a “blow-off top” for Bitcoin. He said, “Can Bitcoin get to $200K? Of course it could… Because it becomes a whole new conversation if that happens.”But this isn’t something Mike’s rooting for. “Do I want it to happen? No. Why? Because I kind of love America,” he said.Mike warns Trump pick could destroy Fed independenceMike also said the whole setup could be “really shitty for America.” He’s not talking theory. He said outright that putting a dovish loyalist in charge might kill the Fed’s independence. That, he warned, could push investors into full panic mode.“Gold skyrockets… Bitcoin skyrockets,” he said. The change wouldn’t just hit traditional finance, it would slam the dollar too. That’s because when the Fed softens, the dollar usually weakens. And when that happens, crypto looks a lot more attractive.The idea that Trump will pick someone soft is already priced in a little, according to Mike. But not completely. “It was priced in that he was going to pick somebody dovey, but no one is quite sure,” he said. He believes markets won’t fully react until the decision is made official. “I don’t think the market will buy that Trump’s going to do the crazy, until he does the crazy.”Cryptopolitan reported that Trump told people at the Oval on September 6 that he has narrowed down the Fed chair shortlist to three names: Kevin Hassett, Christopher Waller, and Kevin Warsh. “You could say those are the top three,” Trump said.Waller, who currently sits on the Fed’s Board of Governors, had already pushed for a rate cut as early as July. That’s two months before the Fed delivered a 25 basis point cut, its first since last year.Fed cuts rates as stocks climb and Bitcoin eyes the chaosThe markets saw the cut coming. But what’s worrying people like Mike is what happens if it becomes a trend. Meanwhile, stocks are racing. The S&P 500 is up more than 12% since January. The rise, despite spring volatility, has many questioning if prices have gone too far.In Rhode Island on Tuesday, Powell was asked how market levels affect Fed policy. “We do look at overall financial conditions, and we ask ourselves whether our policies are affecting financial conditions in a way that is what we’re trying to achieve,” Powell said. He added that “by many measures, for example, equity prices are fairly highly valued.”That was enough to push stocks slightly lower. But Mike isn’t focused on tiny dips. He’s watching the big picture. If Trump puts someone dovish in the driver’s seat, and that person cuts rates when they shouldn’t, crypto investors could see a massive upside — but it’ll come at a cost.Sam Stovall, chief investment strategist at CFRA, also weighed in on how hot the markets are. “Probably the oldest tenet in investing is ‘buy low, sell high,’” he said. Right now, most pros are watching the price-to-earnings ratio. The S&P 500 is trading at a 41% premium compared to its 20-year average. That stat alone has analysts asking how long this can last. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.