Mike Novogratz, CEO of Galaxy Digital, said he would not be surprised if the price of bitcoin returns to $30,000 next month.” The executive shared, “I look at the price movement and I see the excitement of customers calling and when FOMO (fear of missing out) builds up, it wouldn’t surprise me.
Bitcoin could return to $30,000 in the first quarter, Novogratz said
Galaxy Digital CEO Mike Novogratz gave his outlook for the bitcoin price at a Bank of America conference on Wednesday. The longtime bitcoin advocate believesBTCcould return to $10 million in the first quarter; BTCcould return to $30,000 by the end of next month; and
the price of bitcoin could return to $30,000 by the end of next year. He said.
When I see the price action, when I see the excitement that customers are calling, when the FOMO [fear of missing out] is building up, I would not be surprised if we are at $30,000 by the end of the quarter.
“I would have given both my shoes for that to be true just six weeks ago,” he said, adding that it would make him “the happiest man” ifBTChad closed at $30,000 in 2022. “The happiest man “, he stated that he would have been “the happiest man.
Galaxy Digital’s CEO has been more bullish about the price of bitcoin before. He saidlast March that BTCshould be at $500,000 “in five years.” But he revised his prediction in December, saying it would takeBTCmore than five years to reach that price level. He cited Federal Reserve Chairman Jerome Powell’s interest rate hikes as a reason for his skepticism.
At the time of writing, bitcoin is trading at $24,567, up 8% in the past 24 hours and 16% in the past 30 days.
The Galaxy Digital boss explained.
The one person I am skeptical about whether we can explode back to the old highs this year is Chairman Powell … he is really doing what he says he is going to do and I don’t see the Fed pivoting or cutting anytime soon.
A lot of people have been making bullish predictions about Bitcoin lately. Crypto-focused investment firm Pantera Capital said we are already in the next bitcoin bull market cycle. Investment management firm ArcInvest said bitcoin could become a multi-trillion dollar market, predicting thatBTCcould reach $1.48 million per coin.
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