The famous investor predicted the range in which Bitcoin will be traded for a month.
Galaxy Digital CEO Mike Novogratz predicts that the Bitcoin price will rise only towards the end of the second quarter of the year.
Novogratz expects Bitcoin to trade between $55,000 and $75,000 over the next month. The investor predicts that markets are currently in the “consolidation phase” and that this will change by the end of the second quarter.
“Bitcoin, Ethereum, Solana and everything else will consolidate. What does it mean? “We will probably stay between 55 and 75 thousand dollars until conditions change and market developments take us to the next level.”
Demand for spot Bitcoin ETFs in the US has decreased in recent weeks. However, Galaxy Digital CEO is not worried about this situation.
“The big players are just starting to integrate this into their systems. “The process of asset managers selling to their clients is not something that happens overnight.”
Novogratz also believes that the presidential elections to be held in the United States this year will provide clarity on how cryptocurrencies will be regulated.
