Kevin Helms
A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.
Mike Novogratz Says Bitcoin Could Go Back To $30,000 Next Month – Markets & Prices Bitcoin News
Galaxy Digital CEO Mike Novogratz says he wouldn’t be surprised if the price of bitcoin returns to $30,000 next month. “When I look at the price action, when I look at the excitement of the customers calling, FOMO [fear of missing out] build up, it wouldn’t surprise me,” the executive said.
Bitcoin could return to $30,000 in Q1, says Novogratz
Galaxy Digital CEO Mike Novogratz shared his bitcoin price outlook Wednesday at a Bank of America conference. The longtime bitcoin advocate believes that BTC could return to $30,000 by the end of next month. He said:
When I look at the price action, when I look at the excitement of the customers calling, FOMO [fear of missing out] build up, it wouldn’t surprise me if we were 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 added, noting that it would have made him “the happiest guy” if BTC ended 2022 at $30,000.
The Galaxy Digital boss was previously more optimistic about the price of bitcoin. He said last March that BTC should be at $500,000 “five years out.” However, he revised his forecast in December, saying it would take more than five years for BTC to reach that price level. He attributed his skepticism to central bank chairman Jerome Powell’s rate hikes.
At the time of writing, bitcoin is trading at $24,567, up 8% in the last 24 hours and 16% in the last 30 days.
The Galaxy Digital boss explained:
What makes me skeptical that we can get the explosive, back-to-the-old highs this year is Chairman Powell… He’s really doing what he says he’s going to do, and I don’t see the Fed swinging and cutting anytime soon .
A number of people recently made bullish predictions about bitcoin. Rich Dad Poor Dad author Robert Kiyosaki said he expects BTC to reach $500,000 by 2025. Crypto-focused investment firm Pantera Capital said we are already in the next bitcoin bull market cycle. Investment management firm Ark Invest said that bitcoin could become a multi-trillion dollar market, predicting that BTC could reach $1.48 million per coin.
What do you think of Galaxy Digital CEO Mike Novogratz’s bitcoin price prediction? Let us know in the comments section below.
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