Galaxy Digital CEO Mike Novogratz says he wouldn’t be surprised if the bitcoin price returns to $30,000 next month. “When I look at the price action, when I look at the excitement of the customers calling in, the FOMO (fear of missing out) that builds up, I wouldn’t be surprised,” the executive shared.
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 proponent believes that BTC it could be back to $30,000 by the end of next month. He said:
When I watch the price action, when I watch the excitement of the customers calling in, the FOMO (fear of missing out) building up, I wouldn’t be surprised if we were at $30,000 at the end of the quarter.
“I would have given my two shoes for that to be true just six weeks ago,” he added, noting that it would have made him “the happiest guy” if BTC it ended 2022 at $30,000.
The CEO of Galaxy Digital was previously more optimistic about the bitcoin price. He said in March of last year that BTC It should be at $500,000 “five years later.” However, he revised his prognosis in December, stating that he would take more than five years to BTC reach that price level. He attributed his skepticism to Federal Reserve Chairman Jerome Powell’s interest 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 head of Galaxy Digital explained:
The thing that makes me skeptical that we can have explosive highs and back to old this year is Chairman Powell… He’s really doing what he says he’s going to do, and I don’t see the Fed pivoting and cutting in the short term.
Recently, several people made bullish predictions about bitcoin. Rich Dad Poor Dad author Robert Kiyosaki said he hopes BTC to reach $500,000 by 2025. Crypto-focused investment firm Pantera Capital said that we are already in the next bitcoin bull market cycle. Investment management firm Ark Invest said Bitcoin could become a multi-billion dollar market, predicting that BTC it could go as high as $1.48 million per coin.
What do you think about Galaxy Digital CEO Mike Novogratz’s bitcoin price prediction? Let us know in the comments section.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
