Feb 16, 2023 17:01 UTC
Feb 16, 2023 at 17:01 UTC
Galaxy Digital CEO ‘ would n’t be surprised ’ if Bitcoin hit$ 30K this quarter
Recent positive Bitcoin price action has been linked to a retardation inU.S. affectation, and Mike Novogratz thinks the price rally could sustain until the end of March.
Galaxy Digital effects CEO Mike Novogratz believes there’s a chance Bitcoin
BTC tickers down$ 24,611 could return to$ 30,000 or over before the end of March.
According to a Feb. 15 Bloomberg report, Novogratz spoke at a Bank of America conference the same day and said he would ’ve been the “ happiest joe ” if 2022 ended with BTC at $ 30,000, but added
“ When I look at the price action, when I look at the excitement of the guests calling, the FOMO erecting up, it would n’t surprise me if we were at $30,000 by the end of the quarter. ”
The prediction is much lower than others Novogratz has made in history. The Galaxy CEO formerly believed that Bitcoin could reach$,000 by the end of 2027 if the United States Federal Reserve kept hiking interest rates.
During Wednesday’s conference, Novogratz again made a citation of the rate hikes by Fed president Jerome Powell, who most lately blazoned an interest rate hike of 25 base points on Feb. 1. Novogratz said he did n’t anticipate the Fed to change its tune anytime soon
“ What makes me skeptical that we can have the explosive, back- to- the-old highs this time is Chairman Powell. He’s really doing what he says he’s going to do, and I do n’t see the Fed pivoting and cutting anytime soon. ”
Alongside the Fed’s February rate hike, Powell indicated affectation in the U.S. had begun to decelerate, which saw Bitcoin shortly spike over $24,000 before declining below $ 22,000.
Following theU.S. Consumer Price Index readout for January coming in roughly as anticipated on Feb. 14, Bitcoin gained nearly 12% in 24 hours and hit over$ 24,700 — its loftiest position since mid-August, according to Cointelegraph data.
Sentiment toward crypto also appears healthy, with the Crypto Fear and Greed indicator climbing nine points to 62 out of 100 and moving the scale from “ neutral ” into “ rapacity ” home.
Bitcoin would still need to gain roughly another 22% by March 31 to reach Novogratz’s prognosticate price.