Galaxy Digital CEO Michael Novogratz recently explained in a Bloomberg TV interview the reasons why Bitcoin prices are expected to "significantly rise", with his bullish forecast depending on the possibility of the US SEC approving the first US spot Bitcoin ETF.
Novogratz explained: "Bitcoin will usher in a number of positive factors, including the upcoming ETF, which the industry has high expectations for. Some of these have already been reflected in the price." He also said that when the announcement of the launch of the spot Bitcoin ETF is actually announced (Novogratz believes it will take two months before trading begins), BlackRock, Ark, Fidelity, and his own company will "use their sales force to convince people to adopt Bitcoin".
Novogratz also emphasized that BTC prices will rise significantly, especially in the event of a possible rate cut by the Federal Reserve, and believes that by this time next year, Bitcoin may reach its historical high. (Bitcoin.com)
