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Read more: Bitcoin Price Prediction For 2024, 2025, 2026 and 2030: Super Crypto Bull Run
Speaking to Fox Business, Novogratz predicted Bitcoin could reach $100,000 this year amid escalating market fervor. He highlighted the unprecedented demand for Bitcoin globally, attributing it to genuine price discovery.
In a previous interview with Bloomberg, Galaxy Digital CEO prediction on Bitcoin was also emphasized, asserting that Bitcoin’s price will soar in the near future. Referring to Bitcoin as “digital gold,” he envisions its potential to surpass the value of traditional gold, especially as younger generations increasingly favor digital assets.
Novogratz delved into Bitcoin’s supply dynamics, expanding a substantial daily influx of new supply pre-halving. Despite this, he noted significant buying activity, with one retail app alone purchasing millions daily.
However, Novogratz warned of potential corrections, suggesting Bitcoin could dip to the mid-$50,000 range before rallying to new highs. He attributed recent price fluctuations to the approval of spot BTC ETFs in the US, which propelled Bitcoin into a phase of price discovery, drawing in fresh investors.
Galaxy Digital CEO prediction on Bitcoin underscores the growing confidence in Bitcoin’s future trajectory, driven by increasing institutional adoption and market developments. Investors are closely monitoring Bitcoin’s movements as it navigates through volatile yet promising terrain.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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