Mike Novogratz Says Bitcoin Could Return to $30,000 Next Month
Galaxy Digital CEO Mike Novogratz says he won’t be surprised if bitcoin’s price returns to $30,000 next month. “When I look at price action, when I look at the excitement of customers calling, FOMO [fear of missing out] I wouldn’t be surprised,” said the leader.
Bitcoin could bounce back to $30,000 in Q1, Novogratz says
Galaxy Digital CEO Mike Novogratz shared his bitcoin price prediction on Wednesday at the Bank of America conference. A longtime bitcoin supporter believes that BTC could be back to $30,000 by the end of next month. He said:
When I look at the price movement, when I look at the excitement of customers calling, FOMO [fear of missing out] building up, I wouldn’t be surprised if we’re at $30,000 by the end of the quarter.
“I would have given both my shoes for it to be true just six weeks ago,” he added, noting that it would have made him “the happiest guy” if BTC ended 2022 at $30,000.
The CEO of Galaxy Digital has previously been more optimistic about the price of bitcoin. He said last March that BTC should be at $500,000 “in five years”. However, in December he revised his forecast, saying that it would take more than five years. BTC to reach this price level. He attributed his skepticism to an interest rate hike by Federal Reserve Chairman Jerome Powell.
At the time of writing, Bitcoin is trading at $24,567, up 8% in the last 24 hours and up 16% in the last 30 days.
The boss of Galaxy Digital explained:
What makes me skeptical that we can have explosive returns to old highs this year is Chairman Powell… He really does what he says and I don’t think the Fed will drastically change its mind and cut it in the near future.
Several people have recently made bullish predictions about bitcoin. Rich Dad Poor Dad author Robert Kiyosaki said he expects BTC it will reach $500,000 by 2025. Cryptocurrency investment firm Pantera Capital has said that we are already in the next bitcoin bull market cycle. Investment management firm Ark Invest said Bitcoin could become a multi-trillion dollar market, predicting that BTC can reach $1.48 million per coin.
What do you think of the bitcoin price prediction made by Galaxy Digital CEO Mike Novogratz? Let us know in the comments below.
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