Bitcoin has surged upwards over the past few hours, recording strong gains, the highest since the beginning of this year.
In this context, the CEO of Galaxy Digital said: “He would not be surprised if Bitcoin reached $30,000 before the end of the current quarter of 2023.”
The CEO of Galaxy Digital said that he wouldn’t be surprised if Bitcoin reached $30,000 before the end of the current quarter of 2023.
Mike Novogratz believes that the price rally may continue into the end of March, as the recent positive Bitcoin price movement has been linked to slowing inflation in the US.
Mike Novogratz, CEO of Galaxy Digital Holdings, said that there is an opportunity for bitcoin to be used by several major companies in the payments system, boosting appetite for the currency.
The CEO of Galaxy Digital said: Bitcoin could reach $500,000 by the end of 2027 if the US Federal Reserve stops raising interest rates.
According to the current price levels near which Bitcoin is hovering, the currency is expected to rise, according to Mike Novogratz’s forecast, in the range of 2000%, up $475.5 thousand.
30 thousand levels
Mike Novogratz made a forecast at the Bank of America (NYSE:BAC) conference on the same day and said he expects Bitcoin to continue from its recent highs.
“When I look at the price action of Bitcoin, when I look at customer excitement and buying of the cryptocurrency, I wouldn’t be surprised if we hit $30,000 by the end of the quarter,” Novogratz said.
During the conference, Novogratz again referred to a rate hike by Fed Chair Jerome Powell, who recently announced a 25bp rate hike on February 1st.
“What makes me skeptical that we could get explosive highs is the Fed chairman, he’s really doing what he says he’s going to do, and I don’t see the Fed turning to retrenchment anytime soon,” Novogratz said.
Novogratz noted that along with the February rate hike by the Fed, Powell indicated that inflation in the United States had begun to slow, leading Bitcoin to soon climb above $24,000 before falling below $22,000.
“By 2025, gold will explode to $5,000, silver will be at $500, and Bitcoin will be at $500,000,” said Robert Kiyosaki, author of Rich Dad Poor Dad.
Kiyosaki attributed his predictions to the fact that faith in the US dollar will fade away, while Bitcoin will become the new currency of mankind.
Kiyosaki believes that after the fall, the Fed will have to print billions of dollars in order to stabilize the markets.
This would lead to an increase in the national debt and a depreciation of the dollar, and scarce assets such as gold, silver and bitcoin are expected to see a significant increase in value by the beginning of 2025.
According to Kiyosaki, one of the reasons for Bitcoin’s appeal is that it is relatively risk-free from a regulatory standpoint.
Bitcoin, the largest digital currency, rose today, reaching levels below $24.6 thousand, jumping by more than 15% to $24.58 thousand since the beginning of the bullish wave.
So far, Bitcoin has risen by 16% during the month, and by more than 39% since the beginning of the year, after it rose earlier by 45%, while its market value is $ 474 billion.
In a few hours, Bitcoin jumped nearly $54 billion, from levels of $420 billion to current levels.
The article does not express a recommendation or nomination, but merely monitors the fluctuations of the market, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, noting that it is not fully subject to the bodies and markets.